Base metal drops further on sustained stockists selling

Most of the base metal prices dropped further at the non-ferrous metal market here today on sustained selling from stockists and traders, dragged down by bearish sentiment at the London Metal Exchange (LME).

Meanwhile, tin firmed up owing to industrial demand. Nickel tanked by Rs 20 per kilo to Rs 1,100 from yesterday's closing level of Rs 1,120 and copper sheets cutting by Rs 9 per kilo to Rs 344 against Rs 353 previously.

Brass sheets cutting and copper utensils scrap, both dipped by Rs 5 per kilo to Rs 257 and Rs 335. Copper armiture fell by Rs 4 per kg to Rs 349.

 

Copper cable scrap, copper scrap heavy, copper wire bar and brass utensils scrap, all moved down by Rs 3 per kilo each to Rs 358, Rs 353, Rs 386 and Rs 251, respectively.

However, tin rose by Rs 5 per kilo to Rs 945 from Rs 940.