Select base metals drop on lower demand

Nickel, tin, zinc and copper utensils scrap declined at the non-ferrous metal market here today on stockists selling amid lower demand from industrial users.
Copper utensils scrap and brass moved up owing moderate offtake from consumer industries.
On the global front, the industrial metal copper ruled steady in early trade underpinned by a slightly weaker dollar, as volumes dwindled ahead of Chinese New Year and with a holiday in the United States.
Nickel, tin and copper utensils scrap fell by Rs 5 per kg each to Rs 1,060, Rs 1,395 and Rs 400 from last Saturday's closing level of Rs 1,065, Rs 1,400 and Rs 405.

Zinc softened by a Re per kg to Rs 172.
However, Brass sheet cutting gained Rs 3 per kg to Rs 325 from Rs 322, brass utensils scrap edged up by Rs 2 per kg to Rs 317 from Rs 315 and also copper scrap heavy inched up by a Re per kg to Rs 426 respectively.