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This is an archive article published on January 30, 2012

Base metals fall on weak global cues

Base metal prices fell by up to Rs 5 per kg in the local non-ferrous metal market.

Base metal prices fell by up to Rs 5 per kg in the local non-ferrous metal market today on stockists selling in tandem with a weakening global trend.

Trading sentiment in base metal turned bearish after copper declined in global markets on concerns that demand in China,the world8217;s largest consumer,may weaken after recent price gain.

Meanwhile,copper for three-month delivery fell 1.8 per cent to USD 8,370.75 a tonne on the London Metal Exchange.

In the national capital,copper mixed scrap and nickel 4215;4 fell by Rs 5 and Rs 4 to Rs 395 and Rs 1,060-1,062 per kg,respectively.

Similarly,zinc ingot,lead ingot and lead imported were down by Rs 2 each to Rs 125-131,Rs 132 and Rs 130 per kg,respectively.

The following are metal rates per kg:

Zinc ingot 125-131,nickel plate 4215;4 1,060-1,062,gun metal scrap 226,bell metal scrap 228,copper mixed scrap 395,chadri deshi 285.

Lead ingot 132,lead imported 130,aluminium ingots 125,sheet cutting 127,aluminium wire scrap 131 and aluminium utensils scrap 126.

 

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