Base metals turn weak on global cues

Prices of select base metals fell by up to Rs 5 per kg.

Prices of select base metals fell by up to Rs 5 per kg in the local non-ferrous metal market today largely in tandem with a weak global trend.

Sentiment turned weak as copper fell in global markets after foreign direct investment in China fell for the fourth month in a row last month.

Meanwhile,copper was down 1 per cent at USD 8,140.50 a tonne on the London Metal Exchange.

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In the national capital,copper mixed,zinc ingot declined by Rs 2 each to Rs 108-112 and Rs 397,while nickel (4×4) shed Rs 5 at Rs 1,025-1,028 per kg,respectively. Lead ingot and lead imported were also down by Rs 2 each to Rs 132 and Rs 130 per kg,respectively.

The following are metal rates per kg: Zinc ingot 108-112,nickel plate (4×4) 1,025-1,028,gun metal scrap 227,bell metal scrap 229,copper mixed scrap 397,chadri deshi 285.

Lead ingot 132,lead imported 130,aluminium ingots 133,sheet cutting 134,aluminium wire scrap 140 and aluminium utensils scrap 133.

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