Base metals soften on global cues, spot demand

Base metal prices fell by up to Rs 4 per kg at the non-ferrous metal market today in tandem with a weakening global trend.
Besides, tepid demand from consuming industries at domestic spot market weighed on prices.
Traders said apart from weakening trend overseas, tepid demand from consuming industries at domestic spot market weighed on prices.
Globally, copper for delivery in three month retreated from over one-year highs by sliding 3 per cent to USD 5,705 per tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel plate (4x4) fell by Rs 2 and Rs 4 to Rs 359 and Rs 81'5-820 per kg respectively.

Zinc ingot, lead ingot and lead imported also enquired lower by Rs 2 each to Rs 110-116, Rs 91 and Rs 97 per kg respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 110-116, Nickel plate (4x4) Rs 815-820, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 359, chadri deshi Rs 295.
Lead ingot Rs 91, lead imported Rs 97, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.