SG:Indian copper and nickel fall on weak global cues
Press Trust of India reporetd that Indian copper and nickel prices fell by INR 2 per kilogram at the local nonferrous base metals market today on stockists selling amid a weak global trend.
Traders said that sentiment turned bearish after copper led industrial metals lower as a measure for new credit in China, the largest metals consumer, suggested the economy was slowing.
Meanwhile, copper for delivery in three months declined 0.8% to USD 6,627 per tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) fell by INR 2 each to INR 436 and INR 1,067 per kilo gram to INR 1,068 per kilogram respectively.
