Declining trend in base metals on global cues

Most of the base metals continued its declining trend at the non-ferrous metal market here today on hectic stockists offering amidst bearish global cues.

The industrial metals fell further at the LME on Japanese concern over quake-stricken nuclear plant weakening the trading sentiment.

Meanwhile, copper utensils scrap and lead moved up on better offtake from consumer industries.

Nickel, tin, copper cable scrap, copper scrap heavy and copper wire bar all fell by Rs 5 per kilo each to Rs 1,330, Rs 1,580, Rs 458, Rs 449 and Rs 486 respectively from yesterday's closing level of Rs 1,335, Rs 1,585, Rs 463, Rs 454 and Rs 491.  

Copper armiture, copper sheet cutting and  brass utensils scrap all moved down by Rs 3 per kilo to Rs 441, Rs 435 and Rs 304.  

However, copper utensils scrap gained Rs 4 per kilo to Rs 421 and lead inched up by a rupee per kilo to Rs 118.