Base metals drops on reduced demand, global cues

Most of the base metals dropped at the non-ferrous metal market here today on reduced demand from stockists and industrial users on the back of bearish global cues.
Globally, industrial metal copper slipped to a fresh six-and-a-half year low in early trade, as traders bet metals prices had further to fall given China's slowing factory demand.
Nickel slid by Rs 20 per kg to Rs 710 from last Saturday's close of Rs 730.
Copper utensils scrap, copper sheet cuttings and tin fell by Rs 10 per kg each to Rs 335, Rs 350 and Rs 1,120 from overnight closing level of Rs 345, Rs 360 and Rs 1,130.

Copper armiture declined by Rs 9 per kg to Rs 354 as against Rs 363 previously.
Copper cable scrap, copper scrap heavy, copper wire bar, brass utensils scrap, brass sheet cuttings moved down by Rs 5 per kg each to Rs 370, Rs 364, Rs 398, Rs 270 and Rs 280 as compared to Rs 375, Rs 369, Rs 403, Rs 265 and Rs 275 respectively.
Zinc edged down by Rs 3 per kg to Rs 139 from Rs 142 previously.