MSN:Select base metals decline on lower global trend
New Delhi, Jan 4 (PTI) Select base metal prices declined by up to Rs 5 per kg in the local non-ferrous metal market today on stockists selling in tandem with a weak trend overseas.
Sentiment turned bearish after copper declined on concern that the European sovereign-debt crisis may slow global economic growth and dampen the demand for raw materials.
Meanwhile, copper for three-month delivery fell by 1.8 per cent to USD 7,650.75 a tonne at the LME.
In the national capital, copper mixed scrap declined by Rs 2 to Rs 385, while nickel (4x4) followed suit and lost Rs 5 to Rs 1,062-1,064 per kg, respectively.
The following are metal rates in Rs per kg:
Zinc ingot 127-133.50, nickel plate (4x4) 1,062-1,064, gun metal scrap 226, bell metal scrap 228, copper mixed scrap 385, chadri deshi 285.
Lead ingot 134, lead imported 132, aluminium ingots 125, sheet cutting 127, aluminium wire scrap 131 and aluminium utensils scrap 126.
