Select base metals slip on sluggish demand, global cues

NEW DELHI: Select base metal prices slipped by Rs 2 per kg on the local non-ferrous metals market on Friday owing to slackened demand amid a weak global trend.


Traders said sentiment turned bearish after copper declined in overseas markets on signs the economic recovery in China is faltering.

Meanwhile, copper for delivery in three months fell 1 per cent to $ 7,105 a tonne on the London Metal Exchange.

In the national capital, copper mixed scrap shed Rs 2 to Rs 417 per kg. Zinc ingot, lead ingot and lead imported were also traded lower by similar margin to Rs 113-119, Rs 136 and Rs 134 per kg, respectively.

The following are metal rates per kg: Zinc ingot 113-119, nickel plate (4x4) 1,045-1,048, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 417, chadri deshi 285.

Lead ingot 136, lead imported 134, aluminium ingots 138, sheet cutting 139, aluminium wire scrap 142 and aluminium utensils scrap 138.