Base metals slide on global cues, subdued demand

Base metals led by nickel fell up to Rs 5 per kg at the non-ferrous metal market today largely on weak global trend.
Besides, sluggish demand from consuming industries weighed on prices.
Traders said sentiment turned bearish as industrial metals extended their declines, with nickel heading for its lowest close in almost seven years in global markets, after Chinese inflation data were weaker than expected, deepening concern about a slowdown in the world's biggest consumer.
Meanwhile, nickel for delivery in three month fell 1.6 per cent to USD 9,425 a metric tonne on the London Metal Exchange.
In the national capital, nickel plate (4x4) and copper mixed scrap fell by by Rs 5 and Rs 2 to Rs 897-902 and Rs 370 per kg respectively.

Zinc ingot, lead ingots and lead imported were trading lower by Rs 2 each to Rs 108-114, Rs 94 and Rs 100 per kg respectively.

In line with general weak trend, aluminium ingots, sheet cutting, wire scrap and utensils scrap were too finished lower by Rs 2 each to Rs 148, Rs 144, Rs 144 and Rs 142 per kg respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 108-114, Nickel plate (4x4) Rs 897-902, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 370, Chadri deshi Rs 295.
Lead ingot Rs 94, Lead imported Rs 100, Aluminium ingots Rs 148, Aluminium sheet cutting Rs 144, Aluminium wire scrap Rs 144 and Aluminium utensils scrap Rs 142.