Base metals extend losses on weak global cues

Copper and nickel prices fell further by Rs 2 per kg at the local non-ferrous metals market today as stockists reduced positions amid weak global trend and subdued domestic demand.
Traders said sentiment remained bearish after copper fell to the lowest level in two weeks in global markets on signs of slowing Chinese demand.
Meanwhile, copper for delivery in three months slipped 0.6 per cent to USD 6,820 a tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) fell further by Rs 2 each to Rs 438 and Rs 1,088-1,089 per kg, respectively. Zinc ingot also declined by the same margin to Rs 111-117 per kg.

Following are today's metal rates per kg:
Zinc ingot 111-117, nickel plate (4x4) 1,088-1,089 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 438, chadri deshi 285.
Lead ingot 118, lead imported 116, aluminium ingots 152, Aluminium sheet cutting 153, aluminium wire scrap 155 and aluminium utensils scrap 152.