Base metals slump on global cues

Led by tin and copper, most of the base metals slumped at the non-ferrous metal market here today on hectic stockist selling amid subdued demand from industrial users, triggered by fall in London Metal Exchange (LME) cues.
The industrial metals tumbled as much as 4 per cent at the LME in the early trade to below USD 7,000 a tonne for the first time since October 2011, due to worries about the global economy's health and losses in commodities overall.
Tin plunged by Rs 50 per kg to Rs 1,330 from Wednesday's closing level of Rs 1,380.
Copper armiture fell by Rs 10 per kg to Rs 445 from Rs 455 and copper sheet cutting dropped by Rs 9 per kg to Rs 441 from Rs 450.

Copper cable scrap, copper utensils scrap, copper wire bar all declined by Rs 8 per kg each to Rs 464, Rs 425 and Rs 492 from Rs 472, Rs 433 and Rs 500.
Copper scrap heavy moved down by Rs 7 per kg to Rs 456 from Rs 463 and nickel also looked down by Rs 5 per kg to Rs 990 from Rs 995.

Brass utensils scrap and brass sheet cutting both went down by Rs 3 per kg each to Rs 312 and Rs 324 from Rs 315 and Rs 327, respectively.
Aluminium ingots, zinc and lead all softened by a rupee per kg each to Rs 137, Rs 138 and Rs 140.

However, aluminium utensils inched-up by a rupee per kg to Rs 113 from Rs 112.