Base metals decline on global cues

Nov 20 2012, 14:47 IST
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SummaryPrices of select base metals fell by Rs 2 per kg in the local non-ferrous metals market today.

Prices of select base metals fell by Rs 2 per kg in the local non-ferrous metals market today largely on weak global trend.

Traders attributed the fall in base metal to weak global trend as France lost its top credit ratings with MoodyŅs and a survey in Chile lowered price estimates for next year.

Meanwhile, copper for delivery in three months fell 0.7 per cent to USD 7,746 a metric tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and zinc ingot declined by Rs 2 each to Rs 390 and Rs 106-110 per kg, respectively.

Lead ingot and lead imported were also traded lower by the same margin to Rs 131 and Rs 129 per kg, respectively.

The following are metal rates per kg:

Zinc ingot 106-110, nickel plate (4x4) 1,031-1,034, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 390, chadri deshi 285.

Lead ingot 131, lead imported 129, aluminium ingots 128, sheet cutting 129, aluminium wire scrap 133 and aluminium utensils scrap 128.

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