Select base metals slip on reduced demand

Tin and nickel prices slipped at the non-ferrous metal market here today on stockist selling amid reduced demand from alloy industries.
Elsewhere, select copper and aluminium utensils prices also declined due to lower offtake from consumer industries.
The industrial metal were trading lower at the LME in early trade, with expectations of fresh supply weighing on prices and dampening investor interest. But predictions of fresh monetary support from the ECB supported metals with tighter supply outlooks such as aluminium and zinc near their recent highs.
Tin fell by Rs 10 per kg to Rs 1,570 from Tuesday's closing level of Rs 1,580.

Nickel declined by Rs 5 per kg to Rs 1,250 from Rs 1,245.
Copper cable scrap, copper scrap heavy, copper wire bar, copper sheet cutting and aluminium utensils softened by Re 1 per kg each to Rs 491, Rs 483, Rs 519, Rs 465 and Rs 136, respectively.
However, zinc edged-up by Re 1 per kg to Rs 193.