Base metals fall on global cues

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Press Trust of India Mumbai
Last Updated : Jan 20 2013 | 10:58 PM IST

Most of the base metals fell at the non-ferrous metal market here today due to stockist selling as well as reduced industrial offtake on the back of sluggish trend at the London Metal Exchange (LME).  

The industrial metals turned bearish at the LME on stronger dollar and rising concerns over the spread of euro zone debt crisis.

Nickel tumbled by Rs 20 per kg to Rs 1,200 from overnight closing level of Rs 1,220 and tin dropped by Rs 15 per kg to Rs 1,405 as against Rs 1,420 previously.  

Copper cable scrap, copper scrap heavy and copper wire bar declined by Rs 4 per kg each to Rs 469, Rs 459 and Rs 497 from Rs 473, Rs 463 and Rs 501 yesterday. 

Copper sheet cutting moved down by Rs 2 per kg to Rs 443.

Copper armiture, brass utensils scrap and brass sheet cutting softened by a rupee per kilo each to Rs 449, Rs 304 and Rs 315, respectively.

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First Published: Jul 12 2011 | 5:10 PM IST

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