Base metals drop on reduced demand

Tin, Nickel, Copper, Zinc and Brass utensils' prices dropped at the non-ferrous metal market here today on stockist selling amid reduced demand from industrial users.
Globally, London copper was trading steady in early trade as markets braced for the possibility that Greece would default on a debt payment and depart the euro zone, while nickel held near six-year lows after the Shanghai exchange widened its delivery options.
Tin plunged by Rs 35 per kg to Rs 1,145 from Monday's closing level of Rs 1,180.
Nickel dipped Rs 20 per kg to Rs 935 from Rs 955.
Zinc fell by Rs 5 per kg to Rs 170 as against Rs 175.

Copper sheet cutting looked down by Rs 3 per kg to Rs 418 compared to Rs 421, yesterday.
Copper cable scrap, copper utensils scrap and copper wire bar moved down by Rs 2 per kg each to Rs 439, Rs 398 and Rs 459 from Rs 441, Rs 400 and Rs 461.
Copper scrap heavy, copper armiture and brass utensil scrap softened by a Re per kg to Rs 434, Rs 425 and Rs 304, respectively.