Zinc, copper soften on global cues

Prices of zinc and copper fell by Rs 2 per kg at the local non-ferrous metals market today on increased selling by stockists in tandem with weak global trend.
Traders said sentiments remained bearish after zinc extended losses in the overseas markets as investors viewed this week's rally to a 35-month high as excessive and after Chinese trade data missed economists' forecasts.
Meanwhile, zinc for delivery in three months retreated 0.8 per cent to USD 2,262 a metric tonne on the London Metal Exchange.The metal had touched USD 2,318 on July 8, the highest since August 2011.
In the national capital, zinc ingot and copper mixed scrap were down by Rs 2 each to Rs 107-113 and Rs 440 per kg respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot 107-113, Nickel plate (4x4) 1,088-1,094, Gun metal scrap 227, Bell metal scrap 229, Copper mixed scrap 440, Chadri deshi 285.
Lead ingot 113, Lead imported 111, Aluminium ingots 155, Aluminium sheet cutting 156, Aluminium wire scrap 158 and Aluminium utensils scrap 155.