Select base metals remained weak and prices declined by up to Rs 5 per kg in the local non-ferrous metal market today largely in tandem with a weakening trend at the London Metal Exchange (LME).
Trading sentiments remained bearish as copper dropped in global markets as concerns over a slowdown in the Chinese economy and European debt crisis dimmed the demand outlook.
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Meanwhile, copper for three-month delivery fell by 1.4% to $8,715.25, while nickel declined by 0.2% to $24,300 a metric tonne on the LME.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained weak and shed another Rs 2 each to Rs 503, Rs 526 and Rs 486, respectively, while nickel (4x4) lost Rs 5 to Rs 1,060-1,062 per kg.
Lead ingot and lead imported also traded lower by rupee one each to Rs 139 and Rs 141 per kg, respectively.
Following were today's quotations per kg:
Tin ingot 845, zinc ingot 135.50, nickel plate (4x4) 1,060-1,062, gun metal scrap 226 bell metal scrap 228, copper wire scrap 503, copper wire bar 526, copper mixed scrap 486, Utensil scrap 224, Chadripital 175
Lead ingot 139, lead imported 141, aluminium ingots 109, sheet cutting 110, aluminium wire scrap 110 and aluminium utensils scrap 107
