Select base metals extend slide on weak global cues

Tracking a weak trend overseas, select base metals prices drifted lower by Rs 2 per kg at the non-ferrous metal market today.

Traders said, a weak trend overseas amid signs of a slower-than-expected demand recovery in China after Lunar New Year holidays, mainly kept pressure on base metal prices.

Globally, copper for three-month delivery dropped 0.2 per cent at the London Metal Exchange.

Besides, muted demand from consuming industries at domestic spot market also weighed on prices, they said.

In the national capital, copper mixed scrap and nickel plate (4x4) declined by Rs 2 each to Rs 361 and Rs 803-808 kg, respectively.

Zinc ingot also traded lower by a similar margin to Rs 104-110 per kg.

Following are today's metal rates (in Rs per kg): Zinc ingot Rs 104-110, Nickel plate (4x4) Rs 803-808, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 361, chadri deshi Rs 295.

Lead ingot Rs 93, lead imported Rs 99, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)