Select base metals decline on global cues

Select base metals declined up to Rs 2 per kg on reduced industrial demand amid weakening trend in global markets.

Sentiments turned weak as copper in London declined after sales of new homes in the US, the world's second-largest consumer, slumped to the slowest pace on record.

Meanwhile, copper for three-month-delivery fell 0.6 per cent to $9,670.25 a tonne on the London Metal Exchange. 

In the national capital, copper wire crap, copper wire bar and copper mixed scrap were down by Rs 2 each to Rs 504, Rs 527 and Rs 488 per kg, respectively. 

Nickel (4x4) followed suit and traded lower by the same margin to Rs 1,047-1,049 per kg.

In line with firming trend, zinc ingot, lead ingot and lead imported also traded lower by rupee one each to Rs 127.50, Rs 134 and Rs 136 per kg, respectively.  

Following were today's quotations per kg:  

Tin ingot 838, zinc ingot 127.50, nickel plate (4x4) 1,047-1,049, gun metal scrap 226 bell metal scrap 228, copper wire scrap 504, copper wire bar 527, copper mixed scrap 488, 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