Base metals in negative zone on global cues
Select base metals continue to decline on persistent selling due to lower advices from London Metal Exchange (LME).
By PTI |
NEW DELHI: There was no change in the trading pattern on wholesale non-ferrous metal market on Saturday as select base metals continued to decline on persistent selling due to lower advices from London Metal Exchange (LME).
Traders said persistent selling by stockists triggered by weak advices from London Metal Exchange (LME) attributed fall in the base metal prices.
They said reduced industrial offtake too had an impact on the trading sentiments here.
At LME, tin fell by 875 dollar at 15,750-15,800 followed by nickel which shed another 400 dollars at 26,600- 26,650 a metric tonne respectively, mainly affected the market sentiment here.
Zinc and lead also lost 70 and 50 dollar at 3,320-3,330 and Rs 2,910-2,920 a metric tonne respectively.
At wholesale market here, tin ingot lost Rs 10 at Rs 745 while nickel plate 4x4, 9x9 and 4x24 remained down by Rs 5 each Rs 1,485-1,505, Rs 1,485-1,515 and Rs 1,485 a kilo respectively.
Lead traded lower at Rs 108 instead of Rs 112 a kilo while zinc slab quoted lower at Rs 175 a kilo in line with general trend.
Traders said persistent selling by stockists triggered by weak advices from London Metal Exchange (LME) attributed fall in the base metal prices.
They said reduced industrial offtake too had an impact on the trading sentiments here.
At LME, tin fell by 875 dollar at 15,750-15,800 followed by nickel which shed another 400 dollars at 26,600- 26,650 a metric tonne respectively, mainly affected the market sentiment here.
Zinc and lead also lost 70 and 50 dollar at 3,320-3,330 and Rs 2,910-2,920 a metric tonne respectively.
At wholesale market here, tin ingot lost Rs 10 at Rs 745 while nickel plate 4x4, 9x9 and 4x24 remained down by Rs 5 each Rs 1,485-1,505, Rs 1,485-1,515 and Rs 1,485 a kilo respectively.
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Lead traded lower at Rs 108 instead of Rs 112 a kilo while zinc slab quoted lower at Rs 175 a kilo in line with general trend.
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