Nickel, tin slump on global cues

Nickel and tin prices slumped at the non-ferrous metal market here today on heavy stockist selling amidst lack of demand from alloy industries driven by bearish global cues.
Elsewhere, copper, brass, zinc, gunmetal scrap and aluminium prices slipped further due to subdued offtake from industrial users.
On the global front, the industrial metal slid at the LME in early trade towards its lowest since May with mounting concerns over global growth also stoking selling across other metals.
Nickel dropped by Rs 25 per kg to Rs 1,125 from Tuesday's closing level of Rs 1,150.
Tin fell by Rs 20 per kg to Rs 1,490 from Rs 1,510.

Copper cable scrap, copper scrap heavy, copper wire bar and gunmetal scrap declined by Rs 3 per kg each to Rs 480, Rs 472, Rs 508 and Rs 405 from Rs 483, Rs 475, Rs 511 and Rs 408.
Copper utensils scrap, brass sheet cutting and zinc moved down by Rs 2 per kg each to Rs 430, Rs 337 and Rs 185 from Rs 432, Rs 339 and Rs 187.
Copper armature, copper sheet cutting, brass utensils scrap and aluminium utensils scrap all softened by Re 1 per kg to Rs 455, Rs 450, Rs 325 and Rs 134, respectively.