Base metals drop on lower demand

Copper, nickel and select brass prices dropped at the non-ferrous metal market here today on stockist selling amidst lower demand from industrial users despite higher London Metal Exchange (LME) cues.
Meanwhile, aluminium ingots gained due to good demand from consumer industries.
The industrial metals rebounded at LME, after dovish comments by Federal Reserve Vice Chair Janet Yellen soothed concerns the United States could begin tapering its huge bond-buying programme this year.
Copper sheet cutting dipped by Rs 6 per kg to Rs 474 from Wednesday's closing level of Rs 480.
Copper cable scrap, copper wire bar and nickel fell by Rs 5 per kg each to Rs 498, Rs 526 and Rs 1,015 from Rs 503, Rs 531 and Rs 1,020, respectively.

Copper scrap heavy fell by Rs 4 per kg to Rs 490 from Rs 494.
Copper armature, copper utensils scrap and brass sheet cutting all declined by Rs 3 per kg each to Rs 479, Rs 453 and Rs 352 from Rs 482, Rs 456 and Rs 355.
However, aluminium ingots moved-up by Rs 3 per kg to Rs 153 from Rs 150.