Tin drops on stockists selling, lower demand

Tin prices dropped at the non-ferrous metal market here today on heavy stockist selling amid lower offtake from alloy industries.
Nickel, select copper, brass and aluminium also witnessed selling pressure.
Meanwhile, copper scrap heavy, brass sheet cutting, zinc and lead edged up owing to better demand from consumer industries.
The industrial metals trading slightly up at the LME on weaker dollar but was on track for its biggest weekly fall since mid-November as slowing growth in China's factories fuelled worries over demand in the world's top metals consumer.
Tin fell by Rs 8 per kg to Rs 1,530 from Thursday closing level of Rs 1,538 and nickel declined by Rs 3 per kg to Rs 1,007 from Rs 1,010.

Copper cable scrap, copper scrap heavy, copper wire bar and aluminium utensils scrap all edged down by Rs 2 per kg each to Rs 513, Rs 508, Rs 541 and Rs 126 as against Rs 515, Rs 510, Rs 543, Rs 360 and Rs 128.
Copper armature and brass utensils scrap also softened by Re 1 per kg to Rs 493 and Rs 354.
However, brass sheet cutting gained Rs 2 per kg to Rs 362 from Rs 360, while copper utensils scrap, zinc and lead inched up by Re 1 per kg each to Rs 469, Rs 175 and Rs 139, respectively.