Select base metals soften on low demand, global cues

Select base metal prices declined by up to Rs 4 per kg at the non-ferrous metal market today following subdued demand from consuming industries amid weak global cues.
Traders said sentiment remained bearish after aluminum slid to a three-week low in global markets as suppliers in China increased output and industrial production in the Asian nation fell short of estimates.
They said tepid demand from consuming industries at domestic spot market also weighed on prices.
Meanwhile, aluminum for delivery in three month fell 1.3 per cent to USD 1,620 a metric tonne,the lowest since September 26 in yesterday's trade on the London Metal Exchange.

In the national capital, aluminium ingots, sheet cutting, wire scrap and utensils scrap were down by Rs 4 each to Rs 154, Rs 150, Rs 150 and Rs 148 per kg respectively.
Nickel plate (4x4) and copper mixed scrap also eased by Rs 2 each to Rs 815-820 and Rs 360 per kg respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 104-110, Nickel plate (4x4) Rs 815-820, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 360, chadri deshi Rs 295.
Lead ingot Rs 87, lead imported Rs 93, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.