Select base metals extend losses on global cues

Select base metals extended losses for the second straight day with prices falling by Rs 2 per kg at the local non-ferrous base metals market today on increased selling by stockists in tandem with a weakening global trend.
Traders said sentiment remained bearish after copper fell on concern that slowing economic growth in China may weaken demand for the base metal.
Meanwhile, copper for delivery in three months fell 0.3 per cent to USD 7,076 a tonne at the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) fell further by Rs 2 each to Rs 437 and Rs 1,068-1,069, while zinc ingot enquired lower by the same margin to Rs 117-123 per kg, respectively.

The following are today's metal rates per kg:
Zinc ingot 117-123, nickel plate (4x4) 1,068-1,069 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 437, chadri deshi 285.
Lead ingot 140,lead imported 138, aluminium ingots 148, Aluminium sheet cutting 149, aluminium wire scrap 151 and aluminium utensils scrap 148.