Select base metals decline on reduced offtake

Select base metal prices declined up to Rs 2 per kg on the local non-ferrous metal market today on reduced offtake at existing higher levels amid weakening trend in global markets.

Traders said reduced offtake by consuming industries at existing higher levels, amid weakening trend in global markets, led to decline in base metal prices.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were enquired lower by Rs 2 each to Rs 479, Rs 503 and Rs 464, while nickel (4x4) traded lower by the same margin to Rs 1022-1024 per kg, respectively.

Zinc ingot, lead ingot and lead imported were also traded lower by Re 1 each to Rs 132.50, Rs 137 and 139 per kg, respectively.

Following were today's quotations in Rs per kg: 

Tin ingot 820, zinc ingot 132.50, nickel plate (4x4) 1,022-1,024, gun metal scrap 226 bell metal scrap 228, copper wire scrap 479, copper wire bar 503, copper mixed scrap 464, Utensil scrap 224, Chadripital 175

Lead ingot 137, lead imported 139, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102