Select base metal prices fall on lower global trend
Select base metals drifted by Rs 2 per kg in the local non-ferrous metal market today owing to slackness in industrial demand amid a weakening global trend.
Trading sentiment turned bearish as copper weakened in London after a report that Germany's economy almost stalled in the second quarter, curbing demand for industrial metals.
Meanwhile, copper for three-month delivery fell by 0.6% to $8,856 a tonne 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 517, Rs 540 and Rs 502 per kg, respectively.
Zinc ingot, lead ingot and lead imported also traded lower by Rs 2 each to Rs 132.50, Rs 140 and Rs 145 per kg, respectively.
Following were today's quotations in Rs per kg:
Tin ingot 835, zinc ingot 132.50, nickel plate (4x4) 1,065-1,067, gun metal scrap 226 bell metal scrap 228, copper wire scrap Rs 517,copper wire bar 540, copper mixed scrap 500, utensil scrap 224, chadripital 175
Lead ingot 140, lead imported 145, aluminium ingots 110, sheet cutting 111, aluminium wire scrap 110 and aluminium utensils scrap 107