Select base metals drops on subdued demand, global cues

Image
Press Trust of India Mumbai
Last Updated : Jul 24 2015 | 5:13 PM IST
Most of the base metals dropped at the non-ferrous metal market here today on stockist heavy selling pressure amidst subdued demand from industrial users, also driven by lower global cues.
Globally, the industrial metal copper fell in early trade, its lowest level since 2009, with a survey showing a contraction in activity in China's factories fuelling worries over demand in the top metals consumer as stockpiles steadily mount.
Copper utensils scrap dipped by Rs 12 per kg to Rs 368 from Thursday's closing level of Rs 380. And copper sheets cuttings moved down by Rs 8 per kg to Rs 392 as against to Rs 400 per kg previously.
Copper cable scrap, copper scrap heavy, copper wire bar and lead fell by Rs 7 per kg each to Rs 412, Rs 306, Rs 432 and Rs 120 respectively.
Copper armiture slid by Rs 6 per kg to Rs 399 as compared to Rs 405 yesterday.
Brass utensils scrap, tin and nickel declined by Rs 5 per kg to Rs 293, Rs 1,140 and Rs 890 from Rs 298, Rs 1,155 and Rs 890 previously.
Zinc edged-down by Rs 2 per kg to Rs 169 from Rs 171.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 24 2015 | 5:13 PM IST

Next Story