Select base metals down on lower global trend

Amid a weak trend overseas and subdued demand from consuming industries, select base metals lost up to Rs 2 a kg at the local non-ferrous metal market on Monday.

Traders said subdued industrial demand and reports of weak global trend mainly led to a fall in select base metal prices.

Meanwhile, copper for three-month delivery fell by 0.8 per cent to $9,005 a metric tonne, the lowest level since August 26 on the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained weak and shed another Rs 2 each to Rs 517, Rs 540 and Rs 502 a kg, respectively. Nickel (4x4) followed suit and traded lower by the same margin at Rs 1073-1075 a kg. Lead ingot and lead imported were also enquired lower by rupee one each to Rs 142 and Rs 147 a kg.

Following were today’s quotations in Rs a kg: Tin ingot 834, zinc ingot 134.50, nickel plate (4x4) 1,073-1,075, gun metal scrap 226 bell metal scrap 228, copper wire scrap Rs 517,copper wire bar 540, copper mixed scrap 502, utensil scrap 224, chadripital 175.

Lead ingot 142, lead imported 147, aluminium ingots 112, sheet cutting 113, aluminium wire scrap 112 and aluminium utensils scrap 109.

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