Select base metals slip Rs 3/kg on global cues

Tracking a weak trend overseas, select base metal prices fell up to Rs 3 per kg at the non-ferrous metals market today.
Traders said sentiment turned bearish after nickel fell to the lowest level in almost 13 years in global markets on concern that global production cuts are insufficient to counter faltering demand in China, the world's biggest consumer.
Meanwhile, nickel for delivery in three month dropped 3.2 per cent to USD 7,900 a metric tonne on the London Metal Exchange. However, markets in China, the world's biggest consumer of metals, are closed this week for the Lunar New Year holiday.

In the national capital, nickel plate (4x4) and copper mixed scrap fell by Rs 3 and Rs 2 to Rs 815-820 and Rs 339 per kg respectively. Zinc ingot also traded lower by Rs 2 to Rs 88-94 per kg.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 88-94, Nickel plate (4x4) Rs 815-820, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 339, Chadri deshi Rs 295.
Lead ingot Rs 74, lead imported Rs 80, aluminium ingots Rs 142, aluminium sheet cutting Rs 138, aluminium wire scrap Rs 138 and aluminium utensils scrap Rs 136.