Base metals fall on global cues - The Economic Times

NEW DELHI: Base metals prices fell up to Rs 5 per kg on the local non-ferrous metal market today on reduced offtake by consuming industries amid weakening trend at the London Metal Exchange (LME).

Trading sentiments dampened as copper fell in global markets on concern that Japan's strongest earthquake on record will hurt metals demand in the coming months as manufacturers, including car makers, suspended output while smelters closed after power supplies failed.

Meanwhile, copper for three-month delivery declined for the fourth day, losing 1.1 per cent to USD 9,092.50 a tonne on the LME.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down Rs 2 each to Rs 504, Rs 527, and Rs 488 per kg respectively. Nickel (4x4) followed suit and traded lower by Rs 5 to Rs 1,041-1,043 per kg.

Zinc ingot, lead ingot and lead imported were traded lower by Re 1 each to Rs 125.50,Rs 132 and Rs 134 per kg, respectively.

Following were today's quotations per kg: Tin ingot 833, zinc ingot 125.50, nickel plate (4x4) 1,041-1,043, gun metal scrap 226 bell metal scrap 228, copper wire scrap 504, copper wire bar 527, copper mixed scrap 488, Utensil scrap 224, Chadripital 175.

Lead ingot 132, lead imported 134, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102.