New Delhi, Jan 11 (PTI) Prices of select base metals fell up to Rs 5 per kg on the local non-ferrous metal market today, on stockists selling in tandem with a weakening global trend.
The trading sentiment turned bearish after copper dropped from a one-week high in global markets as Fitch Ratings'' warning that it may downgrade Italy''s credit rating raised concern over Europe''s economic growth, eroding demand outlook for industrial metals.
Meanwhile, copper for the three-month contract fell by 1.3 per cent to USD 7,642.25 and nickel by 0.5 per cent to USD 19,400 a tonne on the London Metal Exchange (LME).
In the national capital, copper mixed scrap and nickel (4x4) fell by Rs 5 each to Rs 385 and Rs 1,054-1,056 per kg, respectively.
Zinc ingot, lead ingot and lead imported were also traded lower by Rs rupee one each to Rs 122-128, Rs 129 and Rs 127 per kg, respectively.
The following are metal rates (in Rs per kg):
Zinc ingot 122-128, nickel plate (4x4) 1,054-1,056, gun metal scrap 226, bell metal scrap 228, copper mixed scrap 385, chadri deshi 285.
Lead ingot 129, lead imported 127, aluminium ingots 123, sheet cutting 125, aluminium wire scrap 129 and aluminium utensils scrap 124.
