Select base metals down on weak global cues

NEW DELHI, July 30: Tracking a weak global trend, select base metals fell up to Rs 5 per kg at the non-ferrous metal market today.

Besides, subdued demand from consuming industries fuelled the downtrend.

Traders said sentiments turned bearish after copper fell and was poised for the biggest monthly loss since January in global markets as the economy slows in China, the world’s biggest consumer.

Meanwhile, copper for three-month delivery fell by 0.8 per cent to USD 5,284 per tonne on the London Metal Exchange (LME).

In the national capital, copper mixed scrap and nickel plate (4×4) fell by Rs 2 and Rs 5 to Rs 394 and Rs 945-950 per kg respectively.

Zing ingot also eased by Rs 2 to Rs 106-112 per kg.

Following are today’s metal rates (in Rs per kg):

Zinc ingot Rs 106-112, Nickel plate (4×4) Rs 945-950, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 394, Chadri deshi Rs 285.

Lead ingot Rs 100, Lead imported Rs 101, Aluminium ingots Rs 156, Aluminium sheet cutting Rs 157, Aluminium wire scrap Rs 159 and Aluminium utensils scrap Rs 156. (PTI)

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