Base metals weaken on subdued demand

Select base metals led by copper weakened by Rs 2 per kg at the non-ferrous market today owing to slackened demand from consuming industries amid weak global cues.
Traders said sluggish demand from consuming industries and a weak global trend on fears that supply will outpace demand mainly led to the decline in select base metal prices.
Globally, copper, used in pipes and wiring, extended its retreat from the high level in a month by dropping 1.4 per cent to USD 4,930 per tonne at the London Metal Exchange in yesterday's trade.
In the national capital, copper mixed scrap and nickel plate (4x4) softened by Rs 2 each to Rs 366 and Rs 838-843 per kg, respectively.

Zinc ingot, lead ingots and lead imported also enquired lower by a similar margin to Rs 98-104, Rs 78 and Rs 84 per kg, respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 98-104, Nickel plate (4x4) Rs 838-843, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 366, chadri deshi Rs 295.
Lead ingot Rs 78, lead imported Rs 84, aluminium ingots Rs 155, aluminium sheet cutting Rs 151, aluminium wire scrap Rs 151 and aluminium utensils scrap Rs 149.