Select base metals fall on selling, global cues

Nickel, tin, lead, select copper and brass fell at the non-ferrous metal market here today on stockist selling amid reduced offtake from industrial users on the back lower global cues.
The industrial metals, copper, nickel and other metals were trading lower at the LME in early trade weighed by opportunistic selling after recent gains as well as mute trading activity with much of the Europe marking public holiday.
Nickel dropped by Rs 15 per kg to Rs 1,235 from Wednesday's closing level of Rs 1,250 and tin slid by Rs 5 per kg to Rs 1,605 from Rs 1,610.
Copper armature, copper utensils scrap and brass utensils scrap all eased by Rs 2 per kg each to Rs 477, Rs 456 and Rs 343 as against Rs 479, Rs 456 and Rs 343 previously.

Lead also softened by a Re per kg to Rs 145, however aluminium utensils scrap inched up by Re 1 per kg to Rs 129.