Weak global cues drag down base metals

Tracking a weakening global trend, base metal prices softened by up to Rs 5 per kg at the non-ferrous metal market today.
Traders said sentiment remained weak after copper plunged to the lowest intra-day price since May 2009 at the London Metal Exchange (LME) on concern that Chinese demand is slowing and as the dollar traded at its strongest level in more than a decade.
At the LME, copper for three month delivery fell 2.1 per cent to USD 4,593.50 per tonne.
In the national capital, copper mixed scrap and nickel plate (4x4) fell by Rs 5 each to Rs 361 and Rs 890-895 per kg, respectively.

Lead ingot, lead imported and zinc ingots were down by Rs 2 each to Rs 90, Rs 96 and Rs 106-112 per kg, respectively.
In line with overall trend, aluminium ingots, sheet cutting, wire scrap and utensils scrap were too fell by Rs 2 each to Rs 146, Rs 142, Rs 142 and Rs 140 per kg, respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 106-112, Nickel plate (4x4) Rs 890-895, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 361, Chadri deshi Rs 295.
Lead ingot Rs 90, Lead imported Rs 96, Aluminum ingots Rs 146, Aluminum sheet cutting Rs 142, Aluminum wire scrap Rs 142 and Aluminum utensils scrap Rs 140.