Select base metals slide on global cues, muted demand

Select base metal prices drifted lower by up to Rs 5 per kg at the non-ferrous metal market today, tracking a weak trend overseas amid easing demand from consuming industries.
Traders said apart from weak trend overseas, tepid demand from consuming industries at domestic spot market, mainly weighed on base metal prices.
Globally, nickel for delivery in three month fell 3.66 per cent to USD 11,595 per tonne on the London Metal Exchange.
In the national capital, nickel plate (4x4) fell by Rs 5 to Rs 755-765 per kg respectively. Zinc ingot, lead ingot and lead imported also enquired lower by Rs 2 each to Rs 118-124, Rs 121 and Rs 127 per kg, respectively.

Following are today's metals' rates (in Rs per kg):
Zinc ingot Rs 118-124, nickel plate (4x4) Rs 755-765, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 379, chadri deshi Rs 295.
Lead ingot Rs 121, lead imported Rs 127, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.