Base metals softens on weak global cues

Base metals prices declined by Rs 2 per kg at the non-ferrous market today largely on weak global trend.
Traders said sentiment turned bearish after a weak trend in most industrial metals at the London Metal Exchange (LME) on demand concerns after China's retail sales, industrial production and fixed-asset investment data released on Saturday missed economist estimates.
Meanwhile, copper for three-month delivery fell 0.7 per cent at the LME.
Besides, a weak demand from consuming industries at domestic spot market weighed on prices, they said.
In the national capital, copper mixed scrap and nickel plate (4x4) declined by Rs 2 each to Rs 366 and Rs 834-839 per kg, respectively.

Zinc ingot, lead ingot and lead imported were also enquired lower by a similar margin to Rs 94-100, Rs 68 and Rs 74 per kg respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 94-100, Nickel plate (4x4) Rs 834-839, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 366, chadri deshi Rs 295.
Lead ingot Rs 68, lead imported Rs 74, aluminium ingots Rs 153, aluminium sheet cutting Rs 149, aluminium wire scrap Rs 149 and aluminium utensils scrap Rs 147.