Base metals weaken on subdued demand, global cues

Most of the base metals weakened at the non-ferrous metal market here today on sustained stockist selling amidst subdued demand from industrial users also driven by bearish global cues.
Globally, London copper was near its lowest level in four weeks in early trade and was at risk of falling further after a heavy sell off in the previous session fuelled by worries China is facing a hard landing.
Nickle dropped by Rs 5 per kg to Rs 805 from Tuesday's closing level of Rs 810.
Copper cable scrap, copper scrap heavy, copper armiture and copper wire bar dipped by Rs 4 per kg to Rs 412, Rs 407, Rs 402 and Rs 440 as compared to Rs 416, Rs 411, Rs 406 and Rs 444 respectively.

Copper utensils moved down by Rs 3 per kg to Rs 379 as against to Rs 382 previously.
Copper sheet cuttings, brass utensils scrap, brass sheets cuttings and lead also edged down by Rs 2 per kg each to Rs 398, Rs 299, Rs 307 and Rs 120 from overnight closing level of Rs 400, Rs 301, Rs 309 and Rs 122 respectively.
However, tin gains by Rs 5 per kg to Rs 1,160 from yesterday's close to Rs 1,155 and zinc rose by Rs 3 per kg to Rs 151 as against to Rs 148 previously.