Base metals declines on global cues

Select base metals declined at the non-ferrous metal market here today due to stockist selling as well as lower industrial demand on the back falling trend in London Metal Exchange (LME).

Meanwhile, aluminium, brass and copper sheet cutting edged higher on modest demand from consumer industries. 

The industrial metals weakened at the LME on stronger dollar against euro amid rising concerns over debt crises in Greece.

Tin prices dropped by Rs 10 per kilo to Rs 1,370 from overnight closing level of Rs 1,380. Copper cable scrap and copper wire bar both moved down by Rs 3 per kilo each to Rs 460 and Rs 488, respectively.  

Copper armiture eased by Rs 2 per kilo to Rs 443. Copper scrap heavy and zinc softened by a rupee per kilo each to Rs 453 and Rs 124.

However, aluminium utensils scrap gained by Rs 2 per kilo to Rs 109 as against Rs 107 yesterday. Copper sheet cutting and brass sheet cutting also inched up by a rupee per kilo each to Rs 438 and Rs 315, respectively.