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MSN:Base metals weaken on lower global trend, reduced offtake
 
New Delhi, Sept 19 (PTI) Base metal turned weak and prices declined up to Rs 5 per kg on the local non-ferrous metal market today due to reduced industrial demand amid weakening global trend.
Sentiment turned bearish as copper tumbled to its lowest level in more than a month in global markets, as Europe''s debt crisis intensified concerns the global slowdown was deepening and miners in Indonesia and Peru returned to work.
Meanwhile, copper for the three-month contract retreated by 2.3 per cent to 8,500 dollar, the lowest price since August 9 and lead dropped by 2.3 per cent to 2,310 dollar a metric tonne,the lowest level since August 23.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Rs 5 each to Rs 506, Rs 529 and Rs 491 per kg respectively.
Nickel(4x4) and tin ingot followed suit and shed Rs 5 each to Rs 1,055-1,057 and Rs 826 per kg respectively.
Zinc ingot, lead ingot and lead imported were also traded lower by Rs 4 each to Rs 132.50, Rs 137 and Rs 142 per kg respectively.
Following were today''s quotations in Rs per kg:
Tin ingot 826, zinc ingot 132.50, nickel plate (4x4) 1,055-1,057, gun metal scrap 226 bell metal scrap 228, copper wire scrap Rs 506, copper wire bar 529, copper mixed scrap 491, utensil scrap 224, chadripital 175.
Lead ingot 137, lead imported 142, aluminium ingots 112,sheet cutting 113, aluminium wire scrap 112 and aluminium utensils scrap 109.
Source