Copper and nickel prices fell by Rs 2 per kg on the local non-ferrous metal market today on sluggish demand from consuming industries, amid a weak trend overseas.
Trading sentiments turned bearish after copper dropped in global markets as a two-week strike at the world's largest mine in Chile may be nearing an end and weak US consumer spending, deepening concern demand, may ease in the second-largest user.
Meanwhile, copper for delivery in three months lost 0.7% to $9,615 per tonne on the London Metal Exchange.
Besides, sluggish demand from consuming industries at prevailing higher levels mainly led to the decline in copper and nickel prices.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Rs 2 each to Rs 518, Rs 541 and Rs 501, while nickel (4x4) traded lower by the same margin to Rs 1,063-1,065 per kg, respectively.
Following were today's quotations in Rs per kg:
Tin ingot 840, zinc ingot 128.50, nickel plate (4x4) 1,063-1,065, gun metal scrap 226 bell metal scrap 228, copper wire scrap 518, copper wire bar 541, copper mixed scrap 501, Utensil scrap 224, Chadripital 175
Lead ingot 140, lead imported 143, aluminium ingots 112, sheet cutting 113, aluminium wire scrap 112 and aluminium utensils scrap 109
