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Base metals fall on global cues, sluggish demand

Base metals fall on global cues, sluggish demand

New Delhi, Apr 26 (PTI) Base metals led by aluminium fell by Rs 2 per kg at the non-ferrous metal markets today in line with a muted trend overseas.

Besides, subdued demand from consuming industries at the domestic spot market fuelled the downtrend.

Traders said sentiment remained muted on the back of a weak trend overseas where aluminium fell 1.3 per cent as the deadline extension to comply with US sanctions on Rusal, one of the worlds biggest aluminium producers, pulled down prices.

Globally, aluminium for delivery in three-month was down 1.3 per cent at USD 2,217 a tonne a metric tonne on the London Metal Exchange

In the national capital, aluminium ingots, sheet cutting, wire scrap and utensils scrap shed Rs 2 each to Rs 160, Rs 156, Rs 156 and Rs 154 per kg, respectively.

Copper mixed scrap and nickel plate (4x4) followed suit and declined by Rs 2 each to Rs 427 and Rs 838-843 per kg, respectively.

Following are todays metal rates (in Rs per kg):

Zinc ingot Rs 128-134, nickel plate (4x4) Rs 838-843, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 427, chadri deshi Rs 295.

Lead ingot Rs 127, lead imported Rs 134, aluminium ingots Rs 160, aluminium sheet cutting Rs 156, aluminium wire scrap Rs 156 and aluminium utensils scrap Rs 154. PTI KPS DP SDG ADI ADI