Nickel, zinc, brass and copper prices declined at the non-ferrous metal market here today on stockists’ selling amid subdued demand from industrial users.
Globally, sentiment turned bearish after Copper wiped out a fortnight of gains in London after two key gauges of manufacturing in China showed factory activity in the world’s biggest metals consumer contracted again, underscoring weak demand.
Nickel fell by Rs 5 per kg to Rs 715 from last Satursday’s closing level of Rs 720.
Copper cables scrap, Copper scrap heavy, copper wire bar and copper sheet cutting all eased by Rs 2 per kg each to Rs 380, Rs 375, Rs 408 and Rs 365 from Rs 382, Rs 377, Rs 410 and Rs 367.
Lead, Zinc, brass utensils scrap, copper armiture and copper utensils scrap prices edged-down by a Re per kg each to Rs 123, Rs 141, Rs 275, Rs 369 and Rs 350, respectively.