Base metals down on weak global cues

Base metal prices fell up to Rs 7 per kg at the local non-ferrous metal market today on stockists selling in tandem with a weakening global trend.
Traders said sentiment remained weak after lead fell to the lowest price since May 2013 in global markets on demand concern following signs of slowing global economic growth.
Meanwhile, lead for delivery in three months was down 1.2 per cent at USD 1,993 a metric tonne in the London Metal Exchange.
In the national capital, lead ingot declined by Rs 3 to Rs 106 and nickel (4x4) lost Rs 7 at Rs 1,085-1,091 per kg, respectively.

Copper mixed scrap and zinc ingot were also enquired lower by Rs 2 each to Rs 431 and Rs 116-122 per kg, respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot 116-122, Nickel plate (4x4) 1,085-1,091, Gun metal scrap 227, Bell metal scrap 229, Copper mixed scrap 431, Chadri deshi 285.
Lead ingot 106, Lead imported 107, Aluminium ingots 166, Aluminium sheet cutting 167, Aluminium wire scrap 169 and Aluminium utensils scrap 166.