Base metals drop on reduced industrial demand, global cues

Most of the base metals dropped at non-ferrous metal market here today on stockists selling amid reduced demand from industrial users on the back of lower London Metal Exchange (LME) cues.
Meanwhile, tin recovered on renewed demand alloy industries.
The industrial metal slipped at the LME in early trade for a third session on Monday as the dollar firmed on the likelihood of a US interest rate hike and investors fretted over China's slowing economic growth.
Nickel slumped by Rs 28 per kg to Rs 1,210 from last Saturday's closing level of Rs 1,238.
Brass sheet cutting fell by Rs 6 per kg to Rs 348 from last weekend's level of Rs 354.

Copper cable scrap and copper wire bar both declined by Rs 4 per kg to Rs 483 and Rs 511 from Rs 487 and Rs 515.

Copper scrap heavy, copper armature, copper utensils scrap and brass utensils scrap dipped by Rs 3 per kg each to Rs 475, Rs 464, Rs 438 and Rs 334 from Rs 478, Rs 467, Rs 441 and Rs 337, respectively.
Copper sheet cutting and zinc moved down by Rs 2 per kg each to Rs 460 and Rs 186 from Rs 462 and Rs 188.
However, tin climbed by Rs 5 per kg to Rs 1,540 as against Rs 1,535 previously.