ET:Base metals remain weak on overseas trends, subdued demand
NEW DELHI: Weak conditions continued to prevail at the non-ferrous metal market today with prices of copper and other metals falling up to Rs 5 per kg largely in line with subdued trend at the London Metal Exchange.
The sentiment remained bearish after copper and other base metals weakened at the London Metal Exchange (LME)on concern that signs of slowing growth from the US to China will curb demand.
Globally, copper for delivery in three months at the LME dropped as much as 0.8 per cent, to $7,398.75 a tonne.
Further, slackened demand from consuming industries at domestic spot markets put pressure on metal prices, they said.
In the national capital, copper mixed scrap and nickel fell by Rs 5 each at Rs 418 and Rs 1,047-1,050 per kg, respectively.
In line with general trend, lead ingot and lead imported traded further down by Rs 2 each at Rs 144 and Rs 142 per kg respectively.
The following are today's metal rates per kg: Zinc ingot 112-118, nickel plate (4x4) 1,047-1,050 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 418, chadri deshi 285.
Lead ingot 144, lead imported 142, aluminium ingots 142, sheet cutting 143, aluminium wire scrap 146 and aluminium utensils scrap 142.