Copper and other base metals continued to slide for the third straight day by losing up to Rs 5 per kg in the local non-ferrous metals market today amid a weakening trend at global markets.
Trading sentiment remained weak after copper fell, heading for its worst week in more than three months at global markets, and aluminium declined to the lowest level since February on concerns that Europe's debt crisis may slow the global economic recovery.
Reduced offtake by consuming industries also put pressure on the metal prices at wholesale metal market here.
Meanwhile, copper for three-month delivery fell 2.7 per cent to $6,760 a metric tonne on the London Metal Exchange.
Aluminium also declined 2.5 per cent to $2,050 a tonne, the lowest price since February 15.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained weak and shed another Rs 2 each to Rs 361, Rs 380 and Rs 340 while nickel (4x4) lost Rs 5 at Rs 889-1,003 per kg.
Aluminium ingot and aluminium wire wire scrap and aluminium utensils scrap were down by Rs 3 each to Rs 100, Rs 97 and Rs 96 per kg.
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