Nickel, tin slip on reduced demand

Nickel, tin and lead prices slipped at the non-ferrous metal market here today on selling by stockists amidst reduced demand from alloy industries.
While, select copper and zinc prices recovered smartly due to buying by stockists amidst renewed offtake from consuming industries.
In overseas markets, the industrial metal copper was trading steady for a fourth session in early trade, weighed by a stronger dollar, while investors looked to the second half of the year for a boost to metals demand in China following the latest interest rate cut.
Nickel and tin dropped by Rs 10 per kg to Rs 1,050 and Rs 1,240 from Monday's closing level of Rs 1,060 and Rs 1,250.

Lead moved down by Rs 2 per kg to Rs 134 from Rs 136.
However, copper scrap heavy rose by Rs 3 per kg to Rs 454 as against Rs 451 yesterday.
Copper cable scrap, copper wire bar and zinc moved up by Rs 2 per kg each to Rs 461, Rs 481 and Rs 195 from Rs 459, Rs 479 and Rs 193, respectively.
Copper armiture, copper utensils scrap and copper sheet cutting inched-up by a Re per kg each to Rs 440, Rs 417 and Rs 433.