Weak conditions prevailed at the non-ferrous metal market today with copper and nickel prices plunged up to Rs 15 per kg, largely in step with a subdued global cues.
Traders said sentiments dampened after copper and nickel slumped to multi-year lows at the London Metal Exchange (LME) as investors fear China's shift to a consumer-driven economy from investment-led expansion will slow demand in the world's biggest user.
Globally, copper declined as much as 2.6 per cent to USD 4,461.50 a metric tonne, while nickel plunged 5 per cent to USD 8,235 per tonne at the LME.
In the national capital, copper mixed scrap fell by Rs 10 to Rs 344 per kg, while nickel plate (4x4) fell by Rs 15 to Rs 860-865 per kg.
Lead ingot and lead import too were down by Rs 2 each to Rs 84 and Rs 90 per kg, respectively. Zinc ingot too shed Rs 2 to Rs 102-108 per kg.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 102-108, Nickel plate (4x4) Rs 860-865, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 344, Chadri deshi Rs 295.
Lead ingot Rs 84, Lead imported Rs 90, Aluminum ingots Rs 142, Aluminum sheet cutting Rs 138, Aluminum wire scrap Rs 138 and Aluminum utensils scrap Rs 136.
