Aluminium, zinc soften on global cues

Prices of aluminium and zinc fell by Rs 2 per kg at the non-ferrous metal markets today largely in line with a weak trend overseas.

Besides, muted demand from consuming industries at domestic spot market, too weighed on prices.

Traders said sentiments turned bearish after aluminium and zinc prices slipped post the US delayed aluminium and

steel tariffs for some countries, and announced permanent exemptions for others raising the prospect of better metal supply.

Globally, aluminium for delivery in three-months slipped 0.6 per cent to USD 2,242 a tonne, while zinc, used to galvanise

steel, fell 0.7 per cent to USD 3,105 a tonne on the London Metal Exchange.

 

In the national capital, aluminium ingots, sheet cutting, wire scrap and utensils scrap were down by Rs 2 each to Rs 158, Rs 154, Rs 154 and Rs 152 per kg, respectively.

Zinc ingot also traded lower by a similar margin to Rs 126-132 per kg.

Following are today's metal rates (in Rs per kg):

Zinc ingot Rs 126-132, nickel plate (4x4) Rs 836-841, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 425, chadri deshi Rs 295.

Lead ingot Rs 127, lead imported Rs 134, aluminium ingots Rs 158, aluminium sheet cutting Rs 154, aluminium wire scrap Rs 154 and aluminium utensils scrap Rs 152.