Select base metals fall on lower global trend

Select base metal prices fell by Rs 2 per kg on the local non-ferrous base metals market today largely on lower global trend.
Traders said sentiment turned bearish after copper retreated in overseas markets as Federal Reserve minutes increased expectations that policy makers will make further reductions to their monthly bond-buying programme this year, curbing demand for industrial metals.
Meanwhile, copper for delivery in three months fell 0.3 per cent to USD 7,322.50 a metric tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) fell by Rs 2 each to Rs 428 and Rs 1073-1074 per kg, respectively.

Lead ingot and lead imported were also traded lower by the same margin to Rs 134 and Rs 132 per kg respectively.
The following are today's metal rates per kg:
Zinc ingot 113-119, nickel plate (4x4) 1,073-1,074 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 428, chadri deshi 285.
Lead ingot 134,lead imported 132, aluminium ingots 150, Aluminium sheet cutting 151, aluminium wire scrap 153 and aluminium utensils scrap 150.