Base metals soften on global cues

Base metal prices fell up to Rs 5 per kg on the local non-ferrous base metals market today on stockists selling in line with a weak global trend.
Traders said sentiment turned bearish after nickel retreated from a three-week high in overseas markets as record stockpiles outweighed concern that global supplies will decline after Indonesia, the biggest producer of the mined ore, restricted shipments.
Meanwhile, nickel for delivery in three months fell by 0.5 per cent to 14,275 dollar a metric tonne on the London Metal Exchange.
In the national capital, nickel (4x4) and copper mixed scrap fell by Rs 2 and Rs 5 to Rs 1,079-1,080 and Rs 435 per kg respectively.

Zinc ingot, lead ingot and lead imported also enquired lower by Rs 2 each to Rs 111-117, Rs 136 and Rs 134 per kg respectively.
The following are today's metal rates per kg:
Zinc ingot 111-117, nickel plate (4x4) 1,079-1,080 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 435,chadri deshi 285.
Lead ingot 136,lead imported 134, aluminium ingots 150, Aluminium sheet cutting 151, aluminium wire scrap 153 and aluminium utensils scrap 150.