Select base metals slide on global cues, low demand

Select base metal prices drifted lower by Rs 2 kg per kg at the non-ferrous metals market today tracking a weak trend overseas.

Besides, easing demand from consuming industries at domestic spot market, weighed on prices.

Traders said sentiment turned bearish on the back of a weak trend overseas where London copper slipped as investors shrugged off a potential strike at the world's largest copper mine and focused instead on a raft of economic reports that may indicate slowing growth in top metals consumer China.

Shanghai Futures Exchange copper eased 0.2 per cent to 49,950 yuan (USD 7,306) a tonne.

In the national capital, copper mixed scrap and zinc ingot fell by Rs 2 each to Rs 440 and Rs 137-143 per kg, respectively. Lead ingot and lead imported were also enquired lower by Rs 2 each to Rs 142 and Rs 149 per kg, respectively.

Following are today's metal rates (in Rs per kg):