Meltdown in metal prices on global recession fear

Metal prices continued to fall sharply on the non-ferrous metal market, heavy stockists offerings fearing a global economic recession will reduce demand for industrial metals.     

Nickel dropped by Rs 30/Kg to Rs 660, brass utensils scrap by Rs 17/Kg to Rs 179, copper utensils scrap by Rs 17 /Kg to Rs 248, tin by Rs 15/Kg to Rs 760, copper cable scrap by Rs 14/Kg to Rs 273, copper wire bar by Rs 14/Kg to Rs 301, copper scrap heavy by Rs 13/Kg to Rs 269, copper sheets cutting by Rs 13/Kg to Rs 265, copper armiture by Rs 12/Kg to Rs 268 and brass sheets cutting by Rs 10/kg to Rs 191.     

 

Lead also declined by Rs 5/kg to Rs 85, aluminium utensils scrap by Rs 5/Kg to Rs 98 and aluminium ingots by Rs 3/Kg to Rs 121.