NEW DELHI: Select base metal prices declined by Rs 2 per kg in the local non-ferrous metals market today on stockists selling in tandem with a weakening global trend.
Sentiment turned bearish after copper declined as inventories in London Metal Exchange (LME) warehouses advanced to the highest level in almost two months and on speculation that stockpiles in Shanghai may snap 10 weeks of losses.
Meanwhile, copper for three-month metal lost 0.6 per cent to USD 7,567 a tonne on the LME.
Besides, fall in industrial demand also put pressure on base metal prices.
In the national capital, copper mixed scrap and zinc ingot shed Rs 2 each to Rs 114-120 and Rs 404 per kg, respectively. Nickel (4x4) followed suit and traded lower by the same margin to Rs 1,053-1,056 per kg.
The following are metal rates per kg: Zinc ingot 114-120, nickel plate (4x4) 1,053-1,056, gun metal scrap 226, bell metal scrap 228, copper mixed scrap 404, chadri deshi 285.
Lead ingot 137, lead imported 135, aluminium ingots 123,sheet cutting 125, aluminium wire scrap 129 and aluminium utensils scrap 124.
