Base metal prices fell by up to Rs 5 per kg in the local non-ferrous metal market today largely in line with a weakening trend overseas amid subdued domestic demand.
Sentiment turned weak after copper dropped in global markets, as concern that the US economic recovery may be faltering spurred a global sell-off in commodities and equities.
Meanwhile, copper for three-month delivery fell by 1.3% to $9,230.25 a tonne on the London Metal Exchange, the lowest level since June 29. In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Rs 5 each to Rs 515, Rs 538 and Rs 498, respectively.
Nickel (4x4) and tin ingot followed suit and lost Rs 5 each to Rs 1,063-1,065 and Rs 835 per kg, respectively.
In line with a general firming trend, zinc ingot, lead ingot and lead imported also moved down by Rs 2 each to Rs 128.50, Rs 140 and Rs 143 per kg, respectively.
Following were today's quotations in Rs per kg:
Tin ingot 835, zinc ingot 128.50, nickel plate (4x4) 1,063-1,065, gun metal scrap 226 bell metal scrap 228, copper wire scrap 515, copper wire bar 538, copper mixed scrap 498, Utensil scrap 224, Chadripital 175
Lead ingot 140, lead imported 143, aluminium ingots 110, sheet cutting 111, aluminium wire scrap 110 and aluminium utensils scrap 107
