Base metals sofen on weak global cues

NEW DELHI, July 6:  The non-ferrous metal market ended on a subdued note today with base metal prices drifted lower by up to Rs 5 per kg, tracking a weak trend overseas amid sluggish domestic demand.
Traders said apart from a weak trend overseas, easing demand from consuming industries at domestic spot market, mainly weighed on base metal prices.
Globally, copper for delivery in three-month retreated 0.9 per cent to USD 5,841 per tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel plate (4×4) fell by Rs 2 and Rs 5 to Rs 342 and Rs 783-793 per kg, respectively.
Zinc ingot, lead ingot and lead imported were also enquired lower by Rs 2 each to Rs 98-104, Rs 88 and Rs 94 per kg, respectively.
Following are today’s metal rates (in Rs per kg):
Zinc ingot Rs 98-104, Nickel plate (4×4) Rs 783-793, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 342, chadri deshi Rs 295.
Lead ingot Rs 88, lead imported Rs 94, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148. *(PTI)


Please enter your comment!
Please enter your name here