Select base metals soften on global cues

Select base metal prices drifted by Rs 2 per kg on the local non-ferrous base metals market today due to reduced industrial offtake amid a weak global trend.
Traders said sentiment turned bearish after copper declined in overseas markets on speculation that demand will slow as the US Federal Reserve signalled a faster timetable for raising rates and China'sgrowth faltered.
Meanwhile, copper for delivery in three months retreated 1.3 per cent to USD 6,471 a tonne on the London Metal Exchange.
In the national capital, copper mixed scrap, zinc ingot, lead ingot and lead imported were traded lower by Rs 2 each to Rs 432, Rs 115-121, Rs 132 and Rs 130 per kg, respectively.

The following were today's metal rates per kg:
Zinc ingot 115-121, nickel plate (4x4) 1,060-1,061 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 432, chadri deshi 285.
Lead ingot 132, lead imported 130, aluminium ingots 146, Aluminium sheet cutting 147, aluminium wire scrap 149 and aluminium utensils scrap 146.