Select base metal prices fell by up to Rs 5 per kg in the local non-ferrous metal market today on reduced industrial demand amid a weakening global trend.
Sentiments turned bearish as copper in London declined on concerns that global economic growth may be slowing. Also, some investors sold the metal to lock in gains after it rallied the most in two months yesterday.
Meanwhile, copper for three-month delivery fell by 0.6% to $9,007 a metric tonne on the London Metal Exchange.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Rs 2 each to Rs 503, Rs 526 and Rs 486, respectively, while nickel 4x4 lost Rs 5 to Rs 1,060-1,062 per kg.
Zinc ingot also shed rupee one to Rs 136.50 per kg.
Following were today's quotations per kg:
Tin ingot 850, zinc ingot 136.50, nickel plate (4x4) 1,060-1,062, gun metal scrap 226 bell metal scrap 228, copper wire scrap 503, copper wire bar 526, copper mixed scrap 486, Utensil scrap 224, Chadripital 175
Lead ingot 141, lead imported 143, aluminium ingots 109, sheet cutting 110, aluminium wire scrap 110 and aluminium utensils scrap 107
