Base metals soften on global trend

Base metal prices drifted up to Rs 5 per kg on the local non-ferrous metal market today, largely in tandem with a weak trend at the London Metal Exchange (LME).

Traders said fresh selling by stockists after a weak trend at the LME, mainly led to fall in base metal prices.

Meanwhile, copper for three-month-delivery fell 1.2 per cent to $8,237 a metric tonne on the LME, the lowest level since October 20.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Rs 2 each to Rs 432, Rs 451 and Rs 412 per kg, while nickel (4x4) lost Rs 5 to Rs 985-987 per kg.

Zinc ingot, lead ingot and lead imported were also traded in negative zone with a loss of Rs one each to Rs 125.50, Rs 127 and Rs 129 per kg, respectively.

Following were today's quotations in Rs per kg:

Tin ingot 810, zinc ingot 125.50, nickel plate (4x4) 985-987, gun metal scrap 226 bell metal scrap 228, copper wire scrap 432, copper wire bar 451, copper mixed scrap 412, Utensil scrap 224, Chadripital 175

Lead ingot 127, lead imported 129, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102.