PTI reported that select base metals remained weak and prices traded lower by up to INR 2 per kilogram in the local nonferrous metals market largely due to sluggish demand from consuming industries amid a weakening global trend.

Traders said that fall in industrial demand and weak trend in global markets mainly kept pressure on select base metals. Meanwhile, copper for 3 month delivery slipped 0.1% to USD 7,525 per tonne on the London Metal Exchange. In the national capital, copper mixed scrap and zinc ingot remained weak and declined by INR 2 each to INR 392 and INR 102 per kilogram to INR 108 per kilogram respectively.

Lead ingot and lead imported were also down by Re one each to INR 131 and INR 129 per kilogram respectively. The following are metal rates per kilogram: Zinc ingot 102 to 108, nickel plate (4x4) 1,040 to 1,043, gun metal scrap 226, bell metal scrap 228, copper mixed scrap 392, chadri deshi 285. Lead ingot 131, lead imported 129, aluminium ingots 123, sheet cutting 125, aluminium wire scrap 130 and aluminium utensils scrap 124.

Source - Press Trust of India

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