Copper, nickel down on reduced offtake

Copper and nickel prices drifted up to Rs 5 per kg on the local non-ferrous metal market today, due to reduced offtake amid weak trend in overseas markets.  

Trading sentiments remained bearish after copper fell in overseas markets on dimming prospects for economic growth and metals demand. 

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained under selling pressure and shed Rs 2 each to Rs 514, Rs 537, and Rs 498 per kg, respectively. 

Nickel (4x4) followed suit and traded lower by Rs 5 to Rs 1,058-1,060 per kg. 

Following were today's quotations per kg: 

 

Tin ingot 838, zinc ingot 129.50, nickel plate (4x4) 1,058-1,060, gun metal scrap 226 bell metal scrap 228, copper wire scrap 514, copper wire bar 537, copper mixed scrap 498, Utensil scrap 224, Chadripital 175

Lead ingot 136, lead imported 138, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102