Tin, nickel slump on weak demand

Tin and nickel prices slumped further at the non-ferrous metal market here today on sustained selling by stockists amid weak demand from alloy industries.
Elsewhere, copper and brass also declined owing to lower offtake from consumer industries.
Overseas, industrial metal copper gained in early LME trade, holding its ground in the face of a stronger dollar, with prospects of the US economy picking up.
Nickel and tin dropped Rs 10 per kg each to Rs 800 and Rs 1,140 from Wednesday's closing level of Rs 810 and Rs 1,150.
Copper sheet cutting slipped by Rs 4 per kg to Rs 381 from Rs 385, while copper cable scrap, copper armiture, copper wire bar and brass utensils scrap all eased by Rs 3 per kg each to Rs 402, Rs 386, Rs 430 and Rs 381 as against Rs 405, Rs 389, Rs 433 and Rs 288 yesterday.

Copper scrap heavy and brass sheet cutting edged down by Rs 2 per kg to Rs 396 and Rs 293 from overnight close of Rs 398 and Rs 295.
Copper utensils scrap also softened by Re 1 per kg to Rs 367.