Press Trust of India / New Delhi Sep 09, 2010, 17:54 IST
Copper and other base metal prices continued to slid for the third day by losing another up to Rs 5 per kg in the local non-ferrous metal market today, tracking weak trend in overseas markets.
Trading sentiment remained bearish after copper declined in global markets on signs that US growth may be slowing on a sell off in Chinese commodities, after a report that regulators may be investigating large future positions in Shanghai
Meanwhile, copper for the three-month delivery dipped 2.8 per cent to $7,460, aluminium by 1.4 per cent to $2,130,
Lead slid 1.9 per cent to $2,193.25 and nickel by 1.1 per cent to $22,650 a metric tone on the London Metal Exchange.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Rs 2 each to Rs 395, Rs 414 and Rs 375 per kg, respectively.
Nickel (4x4) followed suit and lost Rs 5 to Rs 915-919, zinc ingot traded lower by Rs 3 to Rs 120.50 per kg.
In line with a general weakening trend, lead ingot and lead imported also lost Rs 2 each to Rs 124 and Rs 126 per kg.
Following were today's quotations in Rs per kg:
Tin ingot 805, zinc ingot 120.50, nickel plate (4x4) 915- 919, gun metal scrap 226 bell metal scrap 228, copper wire scrap 395, copper wire bar 414, copper mixed scrap 375.00, Utensil scrap 224, Chadripital 175.
Lead ingot 124, lead imported 126, aluminium ingots 100, sheet cutting 103, aluminium wire scrap 100 and aluminium utensils scrap 100.
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