Base metals slide on subdued demand, global cues

Select base metals turned weak and prices drifted upto Rs 4 per kg at the local non-ferrous metals market today following sluggish demand from consuming industries coupled with a weak global trend.
Traders said sentiment turned bearish after copper declined in global markets after China's imports of the metal fell by the most in four years, indicating demand is weakening in the largest consumer.
Meanwhile, copper for delivery in three months slipped 0.3 per cent to USD 5,730 tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) fell by Rs 2 and Rs 4 to Rs 403 and Rs 1,055-1,060 per kg respectively. Lead ingot and lead imported were also eased by Rs 2 each to Rs 106 and Rs 107 per kg respectively.

Following are today's metal rates (in Rs per kg)
Zinc ingot Rs 118-124, Nickel plate (4x4) Rs 1,055-1,060, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 403, Chadri deshi Rs 285.
Lead ingot- Rs 106, Lead imported- Rs 107, Aluminium ingots- Rs 162, Aluminium sheet cutting- Rs 163, Aluminium wire scrap- Rs 165 and Aluminium utensils scrap- Rs 162.