Base metals decline on lower global cues

Most of the base metals prices declined at the non-ferrous metal market here today due to stockists offloading driven by a weakening trend in the London Metal Exchange (LME).

Meanwhile, copper wire bar and copper scrap heavy moved up on fresh demand from consumer industries.

Tin dropped by Rs 10 per kilo to Rs 1,110 from Tuesday's closing level of Rs 1,120 and nickel slipped by Rs 8 per kilo to Rs 1,124, as against Rs 1,132 yesterday.

Brass sheets cutting fell by Rs 4 per kilo to Rs 262 from Rs 266.

Copper armiture and brass utensils scrap both moved down by Rs 3 per kilo to Rs 362 and Rs 255, respectively.

Copper sheets cutting and lead edged lower by Rs 2 per kilo each to Rs 358 and Rs 110.

Copper cable scrap and aluminium utensils scrap softened by a rupee per kilo each to Rs 376 and Rs 94.

However, copper wire bar rose by Rs 3 per kilo to Rs 404 and copper scrap heavy inched up by a rupee per kilo to Rs 371.