Prices of copper and nickel drifted lower by Rs 2 per kg at the non-ferrous metals market today, tracking a weak trend overseas.
Sentiment turned bearish after copper slid to its lowest since late March after China's manufacturing growth tempered in June, reflecting a slowdown in the real economy and simmering trade tensions with the United States, traders said.
Globally, copper for delivery in three-month fell 0.7 per cent to USD 6,579 a tonne on the London Metal Exchange. Copper prices on the Shanghai Futures Exchange also inched down by 0.4 per cent to 51,210 yuan (USD 7,698) a tonne.
Besides, sluggish demand from consuming industries at domestic spot market, weighed on prices, they said.
In the national capital, copper mixed scrap and nickel plate (4x4) fell by Rs 2 each to Rs 426 and Rs 883-886 per kg, respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 137-143, nickel plate (4x4) Rs 883-886, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 426, chadri deshi Rs 295.
Lead ingot Rs 140, lead imported Rs 147, aluminium ingots Rs 168, aluminium sheet cutting Rs 164, aluminium wire scrap Rs 164 and aluminium utensils scrap Rs 162.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)