Select base metals drops on lower demand, global cues

Select base metals dropped at non-ferrous metal market here today on stockists selling and lower demand from industrial users as well as bearish global cues.
Meanwhile, lead and copper utensils scrap recovered owing to fresh demand from alloy industries.
On the global front, industrial metal copper slipped towards six-year lows on early today, weighed down by slow summer demand and fitful economic growth in China, while a stronger dollar also raised headwinds for commodities.
Nickle slid by Rs 5 per kg to Rs 855 from Tuesday's closing level of Rs 860.
Copper cable scrap and copper wire bar eased by Rs 3 per kg each to Rs 402 and Rs 430 as against to Rs 405 and Rs 433 yesterday.

Copper scrap heavy moved down by Rs 2 per kg to Rs 396 as comapred to Rs 398 and copper armiture, copper sheets cuttings and zinc softened by a Re per kg each to Rs 392, Rs 387 and Rs 159 respectively.
However, copper utensils scrap and lead edged up by a Re per kg each to Rs 368 and Rs 126 respectively.