Base metals declines, hurt by global cues

Tracking a weak trend overseas and muted demand from consuming industries at domestic spot market, base metal prices fell up to Rs 5 per kg at the non-ferrous metals market today.
Traders said sentiment remained bearish on the back of weak global trend as Barclays Plc said it expects Chinese demand to grow at its slowest pace since 1998.
Meanwhile, copper for delivery in three-month fell by 0.8 per cent to USD 4,552 per metric tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel plate (4x4) declined by Rs 2 and Rs 5 to Rs 343 and Rs 822-827 per kg, respectively.

Zing ingots, lead ingot and lead imported were also edged down by Rs 2 each to Rs 94-100, Rs 78 and Rs 84 per kg, respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 94-100, Nickel plate (4x4) Rs 822-827, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 343, Chadri deshi Rs 295.
Lead ingot Rs 78, lead imported Rs 84, aluminium ingots Rs 142, aluminium sheet cutting Rs 138, aluminium wire scrap Rs 138 and aluminium utensils scrap Rs 136.