Base metals extend weakness on global cues

Base metals, led by zinc fell up to Rs 3 per kg at the non-ferrous metal market today in tandem with a weakening global trend.
Traders said sentiments remained weak after zinc dropped to the lowest level in more than five years in global markets on rising stockpiles amid renewed concern over slowing economic growth in China, the biggest consumer.
Meanwhile, zinc for delivery in three month fell 1.5 per cent to USD 1,633 a metric tonne, the lowest since June 2010 on the London Metal Exchange.
In the national capital, zinc ingot remained under selling pressure and shed another Rs 2 to Rs 98-104 per kg.

Nickel plate (4x4) and copper mixed scrap also declined by Rs 3 and Rs 2 to Rs 895-900 and Rs 344 per kg respectively.
Lead ingots and lead imported too enquired lower by Rs 2 each to Rs 94 and Rs 95 per kg respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 98-104, Nickel plate (4x4) Rs 895-900, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 344, Chadri deshi Rs 285.
Lead ingot Rs 94, Lead imported Rs 95, Aluminium ingots Rs 150, Aluminium sheet cutting Rs 151, Aluminium wire scrap Rs 153 and Aluminium utensils scrap Rs 150.