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Select base metals weaken on global cues

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Press Trust of India New Delhi

Amid weak trend at the London Metal Exchange, select base metals traded up to Rs 5 per kg lower in the wholesale non-ferrous metal market today.

Slackness in local demand from consuming industries also weighed on the prices.

Trading sentiment turned somewhat weak after copper and other base metals showed weakness at the London Metal Exchange.

Stronger rupee also put some pressure which makes the dollar-quoted commodities, including metals cheaper.

Meanwhile, copper for three-month-delivery fell by 0.25 per cent to $9,342 per tonne at the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap turned weak and traded Rs 3 each lower at Rs 463, Rs 487 and Rs 448 per kg, respectively.

Nickel despite thin activity, fell by Rs 5 to Rs 1,015- 1,017 per kg, while lead ingot and imported were down by Re one each at Rs 135 and Rs 137 per kg, respectively.

Following were today's quotations in Rs per kg:

Tin ingot 820, zinc ingot 132.50, nickel plate (4x4) 1,015-1,017, gun metal scrap 226, bell metal scrap 228, copper wire scrap 463, copper wire bar 487, copper mixed scrap 448, Utensil scrap 224, Chadripital 175.

Lead ingot 135, lead imported 137, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102.

 

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First Published: Dec 22 2010 | 4:24 PM IST

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