Base metals remain weak on global cues, subdued demand

Base metals, led by copper, fell further up to Rs 5 per kg at the non-ferrous metal market today, tracking a weakening global trend.
Besides, sluggish demand from consuming industries kept pressure on base metal prices.
Traders said sentiment remained bearish after copper fell with aluminum in global markets as China's yuan slid for a third day after its worst loss since 1994.
Meanwhile, copper for delivery in three months traded at USD 5,175 a metric tonne on the London Metal Exchange.
Copper futures fell 0.2 per cent to 39,270 yuan a metric tonne and aluminum contracts slipped 0.1 per cent to 12,120 yuan a metric tonne in Shanghani.

In the national capital, copper mixed scrap and nickel plate (4x4) fell further by Rs 2 and Rs 5 to Rs 374 and Rs 925-930 per kg respectively.

Aluminium ingots, sheet cutting, wire scrap and utensils scrap were down by Rs 2 each at Rs 152, Rs 153, Rs 155 and Rs 152 per kg respectively.
Tracking other base metals, zinc ingot, lead ingots and lead imported were enquired lower by Rs 2 each to Rs 100-106, Rs 98 and Rs 99 per kg respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 100-106, Nickel plate (4x4) Rs 925-930, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 374, Chadri deshi Rs 285.

Lead ingot Rs 98, Lead imported Rs 99, Aluminium ingots Rs 152, Aluminium sheet cutting Rs 153, Aluminium wire scrap Rs 155 and Aluminium utensils scrap Rs 152.