NEW DELHI: Copper and nickel remained weak for the third straight day and prices fell up to Rs 3 per kg on the local non-ferrous metal market today owing to sustained selling by stockists amid a weakening global trend.
Traders said sentiment remained weak after copper declined to a seven-week low in global markets as industrial metals dropped after Federal Reserve Chairman Ben Bernanke said bond purchases may be reduced and as China's manufacturing is slowing.
Meanwhile, Copper fell 1.2 per cent to 6,877.50 dollar a tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) remained under selling pressure and lost Rs 2 and Rs 3 to Rs 414 and Rs 1,037-1,040 per kg, respectively.
The following are today's metal rates per kg: Zinc ingot 109-115, nickel plate (4x4) 1,037-1,040, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 414, chadri deshi 285.
Lead ingot 141, lead imported 139, aluminium ingots 144, sheet cutting 145, aluminium wire scrap 148 and aluminium utensils scrap 144.
