Base metals drops on reduced industrial demand

Copper, brass, tin and zinc prices dropped at the non-ferrous metal market here today on stockists selling amid reduced demand from industrial users.
While, nickel prices recovered on fresh offtake from alloy industries.
At the London Metal Exchange (LME), copper climbed away from 5-1/2 year lows in early trade, propped up by a weaker dollar after worsening US durable goods orders sparked concerns the Federal Reserve may push back its timeline for raising interest rates at a meeting later in the session.
Copper utensils scrap dipped by Rs 10 per kg to Rs 379 from Tuesday's closing level of Rs 389.

Tin fell by Rs 5 per kg to Rs 1,465 from Rs 1,470.
Copper sheet cutting declined by Rs 4 per kg to Rs 396 from Rs 400.

Copper cables scrap, copper scrap heavy, copper armiture, copper wire bar and brass honey moved down by Rs 2 per kg each to Rs 415, Rs 410, Rs 400, Rs 435 and Rs 310 from Rs 417, Rs 412, Rs 402, Rs 437 and Rs 312.
Brass utensils scrap, brass sheet cutting and zinc softened by a Re per kg each to Rs 312, Rs 320 and Rs 174.
However, nickel jumped by Rs 10 per kg to Rs 1,075 as against overnight closing level of Rs 1,065.