Base metals soften on weak global cues, low demand

Base metal prices drifted lower by up to Rs 3 per kg at the non-ferrous metal market today, tracking a weak trend overseas amid easing demand from consuming industries.
Traders said besides weak trend overseas, fall in demand from consuming industries mainly led to a decline in base metal prices.
Globally, copper prices for delivery in three months dropped over USD 100 to close just above USD 7,000 per tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel plate (4x4) fell by Rs 2 and Rs 3 to Rs 398 and Rs 745 -750 per kg, respectively.

Zinc ingot, lead ingot and lead imported also enquired lower by Rs 2 each to Rs 118-124, Rs 119 and Rs 125 per kg, respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 118-124, Nickel plate (4x4) Rs 745-750, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 398, chadri deshi Rs 295.
Lead ingot Rs 119, lead imported Rs 125, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.