Base metals tumble on global cues

Base metals tumbled at the non-ferrous metal market here today due to hectic stockists offloading triggered by the fall in London Metal Exchange (LME).

The industrial metals dropped at global level on worsening Libyan conflict and Middle-East crises.

Nickel tanked by Rs 45 per kg to Rs 1,360 from overnight closing level of Rs 1,405 and tin plunged by Rs 20 per kg to Rs 1,630 as against Rs 1,650 yesterday.

Copper scrap heavy and copper utensils scrap both dropped by Rs 10 per kg each to Rs 460 and Rs 425 from Rs 470 and Rs 435 previously.

Copper cable scrap, copper armature and copper wire bar all fell by Rs 9 per kg each to Rs 469, Rs 451, Rs 497 as compared to Rs 478, Rs 460 and Rs 506, respectively. 

Copper sheet cutting declined by Rs 8 per kg to Rs 445, brass sheet cutting by Rs 6 per kg to Rs 318 and brass utensils scrap by Rs 5 per kg to Rs 310, respectively.

Lead moved down by Rs 3 per kg to Rs 118, zinc edged down by Rs 2 per kg to Rs 132 and aluminium utensils scrap softened by a rupee per kg to Rs 107.