Copper, nickel prices fall on reduced industrial offtkae
Traders said reduced industrial offtake and a weak global trend on concern that demand from China may not be able to absorb rising global supplies.
By PTI | Updated:
NEW DELHI: Prices of copper and nickel fell by Rs 2 per kg on the local non-ferrous metals market on Friday due to reduced industrial offtake amid a weak global trend.
Traders said reduced industrial offtake and a weak global trend on concern that demand from China may not be able to absorb rising global supplies, mainly influenced the sentiment.
Meanwhile, copper for delivery in three months dropped 0.6 per cent to $ 7,561.50 a tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) declined by Rs 2 each to Rs 426 and Rs 1,054-1,057 per kg, respectively.
The following are metal rates per kg: Zinc ingot 121-127, nickel plate (4x4) 1,054-1,057, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 426, chadri deshi 285.
Lead ingot 142, lead imported 140, aluminium ingots 140, sheet cutting 141, aluminium wire scrap 144 and aluminium utensils scrap 140.
Traders said reduced industrial offtake and a weak global trend on concern that demand from China may not be able to absorb rising global supplies, mainly influenced the sentiment.
Meanwhile, copper for delivery in three months dropped 0.6 per cent to $ 7,561.50 a tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) declined by Rs 2 each to Rs 426 and Rs 1,054-1,057 per kg, respectively.
The following are metal rates per kg: Zinc ingot 121-127, nickel plate (4x4) 1,054-1,057, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 426, chadri deshi 285.
Lead ingot 142, lead imported 140, aluminium ingots 140, sheet cutting 141, aluminium wire scrap 144 and aluminium utensils scrap 140.
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