Base metals turn weak on lower global trend
Copper and other base metal prices fell up to Rs 5 per kg on the local non-ferrous metal market today due to fresh selling by stockists influenced by a weak trend at the London Metal Exchange (LME).
Traders said weak trend at the LME led to decline in base metal prices.
Meanwhile, copper for three-month delivery fell by 1.3 per cent to $8,753 a tonne on the LME.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap which remained in positive zone, since last few trading sessions, met with resistance and declined by Rs 2 each to Rs 446, Rs 470 and Rs 431 per kg, respectively.
Nickel (4x4) followed suit and lost Rs 5 to Rs 1,002-1,004 per kg.
Following were today's quotations in Rs per kg:
Tin ingot 810, zinc ingot 130.50, nickel plate (4x4) 1,002-1,004, gun metal scrap 226 bell metal scrap 228, copper wire scrap 446, copper wire bar 470, copper mixed scrap 431, Utensil scrap 224, Chadripital 175
Lead ingot 134, lead imported 136, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102