Base metals prices soften on global cues

Jan 21 2013, 16:19 IST
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SummaryPrices of copper and other base metals fell by Rs 2 per kg in the local non-ferrous metal market.

Prices of copper and other base metals fell by Rs 2 per kg in the local non-ferrous metal market today on stockists selling amid a weak global trend.

Traders said sentiment turned bearish as copper eased gains in London after China¿s imports of the refined metal slumped in December.

Meanwhile, copper was down USD 2 at USD 8,059 a tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and zinc ingot declined by Rs 2 each to Rs 430 and Rs 119-123, while nickel (4x4) followed suit and traded lower by the same margin to Rs 1,065-1,068 per kg respectively.

In line with a general weak trend, lead ingot and lead imported traded lower by Rs 2 each at Rs 141 and Rs 139 per kg respectively.

The following are metal rates per kg: Zinc ingot 119-123, nickel plate (4x4) 1,065-1,068, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 430, chadri deshi 285.

Lead ingot 141, lead imported 139, aluminium ingots 132,sheet cutting 133, aluminium wire scrap 137 and aluminium utensils scrap 132.

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