Select base metals decline on weak demand; Nickel recovers

Tin and copper prices declined further at the non-ferrous metal market here today due to reduced offtake from industrial units as well as poor buying by stockists.
While, nickel recovered on the back of heavy demand from alloy industries and traders amid concerns over an export ban proposal on unprocessed mineral ore by Philippines.
Tin dropped by Rs 5 per kg to Rs 1,565 from overnight close of Rs 1,570.
Copper cable scrap, copper scrap heavy, copper armiture and copper wire bar also softened by a Re per kilo each to Rs 490, Rs 482, Rs 469 and Rs 518, respectively.

However, nickel rose by Rs 5 per kilo to Rs 1,255 as compared to Rs 1,250 previously.