Indian Express reported that base metal prices fell by up to INR 5 per kilogram in the local nonferrous metal market today on stockiest selling in tandem with a weakening global trend.

Trading sentiment in base metal turned bearish after copper declined in global markets on concerns that demand in China, the world's largest consumer, may weaken after recent price gain. Meanwhile, copper for three month delivery fell 1.8% to USD 8,370.75 a tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and nickel (4x4) fell by INR 5 and INR 4 to INR 395 and INR 1,060 per kilogram to 1,062 per kilogram respectively. Similarly, zinc ingot, lead ingot and lead imported were down by INR 2 each to INR 125 to INR 131, INR 132 per kilogram and INR 130 per kilogram respectively.

Zinc ingot 125-131, nickel plate (4x4) 1,060-1,062, gun metal scrap 226, bell metal scrap 228, copper mixed scrap 395, chadri deshi 285. Lead ingot 132, lead imported 130, aluminum ingots 125, sheet cutting 127, aluminum wire scrap 131 and aluminum utensils scrap 126.

(Sourced from www.indianexpress.com)