Select base metals weaken on global cues

NEW DELHI: Select base metals declined by Rs 2 per kg in the local non-ferrous metals market today largely on weakening global trend.

Sentiment turned bearish after copper declined in global markets as improving manufacturing in China may reduce pressure on policy makers to ease monetary policies, curbing demand for the metal in the largest user.

Meanwhile, copper for the metal for delivery in three months fell by one per cent to USD 8,357.50 a tonne on the London Metal Exchange ( LME).

In the national capital, copper mixed scrap declined by Rs 2 to Rs 394 per kg.

Zing ingot, lead ingot and lead imported were also weakened by by the same margin to Rs 114-120, Rs 127 and Rs 125 per kg, respectively.

The following are metal rates per kg: Zinc ingot 114-120, nickel plate (4x4) 1,077-1,079, gun metal scrap 226, bell metal scrap 228, copper mixed scrap 394, chadri deshi 285.

Lead ingot 127, lead imported 125, aluminium ingots 122, sheet cutting 124, aluminium wire scrap 128 and aluminium utensils scrap 123.