Base metals declines on global cues

Base metals declined at the non-ferrous metal market here today due to subdued offtake from stockists and industrial users on the back bearish trend at the London Metal Exchange (LME).

Meanwhile, aluminium utensils scrap edged up on mild offtake from consumer industries.  

Nickel prices dropped by Rs 10 per kilo to Rs 1,335 from last Saturday's closing level of Rs 1,345 and copper armiture dipped by Rs 6 per kilo to Rs 444 as against Rs 450 previously.

Tin, copper scrap heavy and copper utensils scrap fell by Rs 5 per kilo each to Rs 1,585, Rs 454 and Rs 417 respectively from previous closing level of Rs 1,345, Rs 459 and Rs 422.  

Copper cable scrap, copper wire bar and copper sheet cutting declined by Rs 4 per kilo each to Rs 463, Rs 491 and 438.

Brass sheet cutting moved down by Rs 3 per kilo to Rs 315 and brass utensils scrap and softened by a rupee per kilo to Rs 307.

However, aluminium utensils scrap inched up by a rupee per kilo to Rs 107 as compared to Rs 106 previously.