Tin weakens on global cues

Tin and Nickel prices dropped at the non-ferrous metal market here today on stockists selling amid lower demand from alloy industries on the back of bearish global cues.
Meanwhile, select copper, brass and aluminium, zinc and lead price gained further due to good demand from industrial users.
Globally, London tin capitulated to more than five- year lows in early trade and is on track for a brutal 11 pct weekly fall, as growing supply from Myanmar and torpid demand punish prices.
Tin and Nickel fell by Rs 15 per kg each to Rs 1,260 and Rs 960 from Thursday's closing level of Rs 1,275 and Rs 975.

Copper sheet cutting inched-down by a Re per kg to Rs 423.
However, brass utensils scrap, brass sheet cutting, aluminium utensils scrap and lead moved up by Rs 2 per kg each to Rs 316, Rs 323, Rs 129 and Rs 134 as against Rs 314, Rs 321, Rs 127 and Rs 132.
Copper cable scrap, copper scrap heavy, copper armiture, copper wire bar, and zinc inched-up by a Re per kg each to Rs 444, Rs 439, Rs 430, Rs 464, and Rs 181, respectively.