Base metal prices fell up to Rs 4 per kg at the local non-ferrous metal market today largely in tandem with a weakening trend overseas.
Besides, weak demand from consuming industries at spot markets too has put pressure.
Traders said sentiment turned bearish after nickel fell to the lowest in a week in global markets after the European Commission cut growth forecasts for the euro area, dampening the demand outlook for industrial metals.
Meanwhile, nickel slid 1.6 per cent to USD 15,043 a metric tonne on the London Metal Exchange.
In the national capital, nickel (4x4) and copper mixed scrap were down by Rs 4 and Rs 2 to Rs 1084-1090 and Rs 431 per kg respectively. Zinc ingot, lead ingot and lead imported were ended lower by Rs 2 each to Rs 116-122, Rs 104 and Rs 105 per kg respectively.
In line with a general weak trend, aluminium ingots, sheet cutting, wire scrap and utensils scrap were also enquired lower by Rs 2 each to Rs 166, Rs 167, Rs 169 and Rs 166 per kg respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot 116-122, Nickel plate (4x4) 1,084-1,090, Gun metal scrap 227, Bell metal scrap 229, Copper mixed scrap 431, Chadri deshi 285.
Lead ingot 104, Lead imported 105, Aluminium ingots 166, Aluminium sheet cutting 167, Aluminium wire scrap 169 and Aluminium utensils scrap 166.
