Select copper declines on global cues; tin, nickel recover

Select copper declined at the non-ferrous metal market here today on stockist selling amidst lower industrial offtake on the back of bearish London Metal Exchange cues.
Meanwhile, Nickel, tin and lead prices recovered due to fresh offtake from alloy and consumer industries.
The industrial metals were trading lower at the LME as investors looked to a Federal Reserve meeting for clues on the outlook for a US stimulus programme that has underpinned commodity prices.
Copper scrap heavy and copper utensils scrap moved down by Rs 2 per kg to Rs 479 and Rs 441 from Tuesday's closing level of Rs 443.

Copper cable scrap, copper armiture and copper wire bar all softened by a rupee per kg each to Rs 487, Rs 466 and Rs 515, respectively.
However, tin shot-up by Rs 10 per kg to Rs 1,355 from Rs 1,345.
Nickel climbed by Rs 5 per kg to Rs 980 as against Rs 975 yesterday.
Lead inched-up by a rupee per kg to Rs 137.