Select base metals, led by copper declined for the second straight day, lost Rs 2 per kg in the local non-ferrous metal market today on sustained selling, sparked by a weakening trend at the London Metal Exchange.
Trading sentiment remained bearish, as copper declined in Asia, extending the biggest drop in two weeks, after weaker- than-projected US economic data signaled slower industrial metals demand.
Meanwhile, copper for three-month lost 0.8 per cent to $7,367 a metric tonne, after falling 2.1 per cent yesterday, the biggest intra-day drop since July 16 on the London Metal Exchange.
Marketmen said besides, weakening trend at the London Metal Exchange, reduced offtake from consuming industries mainly pulled down the select base metal prices.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained weak and shed Rs 2 each to Rs 375, Rs 394 and Rs 353 per kg, respectively.
Zinc ingot, lead ingot and lead imported also traded lower by rupee one each at Rs 117.50, Rs 114.50 and Rs 117.50 per kg.
Following were today's quotations in Rs per kg:
Tin ingot 795, zinc ingot 117.50, nickel plate (4x4) 882-996, gun metal scrap 226 bell metal scrap 228, copper wire scrap 375, copper wire bar 394, copper mixed scrap 353.00, Utensil scrap 224, Chadripital 175
Lead ingot 114.50, lead imported 117.50, aluminium ingots 100, sheet cutting 103, aluminium wire scrap 100 and aluminium utensils scrap 100
