BS:Select base metals weak on global cues, subdued demand
Copper and other metals remained weak and prices fell up to Rs 5 per kg on the local non-ferrous base metals market today mostly in tandem with a weakening trend at the London Metal Exchange.
Marketmen said persistent fall in base metal prices was mostly in line with the overseas markets on signs of weakening demand after manufacturing slowed in China and the US, the world's top metals consumers.
Globally, copper for delivery in three months fell 0.3 per cent to USD 7,016 a metric tonne on the London Metal Exchange, the lowest intra-day level since December 4.
In the national capital, copper mixed scrap and nickel (4x4) fell by Rs 2 and Rs 5 to Rs 431 and Rs 1,060-1,061, zinc ingot traded lower by Re one at Rs 114-120 per kg, respectively.
The following are today's metal rates per kg:
Zinc ingot 114-120, nickel plate (4x4) 1,060-1,061 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 431, chadri deshi 285.
