Base metal prices moved down by up to Rs 5 per kg in the local non-ferrous metal market today on emergence of selling by stockists amid weakening global trend.
Trading sentiments turned bearish after copper in London tumbled to a seven-week low on concerns that demand growth in China may be slowing amid high inventories, and the possibility that there may be further monetary tightening in the world's largest user.
Meanwhile, copper for three-month delivery dropped 1.8% to $9,178 a metric ton, the lowest price since March 16, nickel shed 1.9% while tin declined by 1.6% on the London Metal Exchange.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained weak and lost Rs 5 each to Rs 510, Rs 533 and Rs 494, respectively.
Nickel (4x4) and tin ingot lost Rs 5 each to Rs 1,070-1,072 and Rs 855 per kg, respectively.
Zinc ingot, lead ingot and lead imported also traded lower by Re 1 each to Rs 135.50, Rs 142 and Rs 144 per kg, respectively.
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Following were today's quotations per kg:
Tin ingot 855, zinc ingot 135.50, nickel plate (4x4) 1,070-1,072, gun metal scrap 226 bell metal scrap 228, copper wire scrap 510, copper wire bar 533, copper mixed scrap 494, Utensil scrap 224, Chadripital 175
Lead ingot 142, lead imported 144, aluminium ingots 109, sheet cutting 110, aluminium wire scrap 110 and aluminium utensils scrap 107