Select base metals slip on reduce demand

Select copper, brass and zinc slipped at the non-ferrous metal market here today on mild stockists selling amid reduced demand from industrial users.
Meanwhile, aluminium and brass sheets cuttings firmed up on sustained demand from consumer industries.
The industrial metal, zinc and aluminium continued to hold its highs in early trade at the LME but rose investors concerns given a seasonal slowdown in demand, wondered just how much further prices could run.
Copper scrap heavy, copper utensils scrap and brass utensils scrap moved down by Rs 2 per kg each to Rs 486, Rs 446 and Rs 335 from Tuesday's closing level of Rs 488, Rs 448 and Rs 337.

Copper cable scrap, copper wire bar and zinc all softened by a Re per kg each to Rs 494, Rs 522 and Rs 192.
However, aluminium ingots climbed by Rs 4 per kg Rs 170 from overnight closing level of Rs 166.
Brass sheet cuttings and aluminium utensils scrap also inched up by Re per kg each to Rs 355 and Rs 132.