Base metals decline on lower industrial demand

Tin and nickel prices fell sharply at the non-ferrous metal market here today due to subdued demand from industrial users amid weakening trend in London Metal Exchange (LME).

Elsewhere, copper, brass and zinc also eased on lower offtake from consumer industries. Meanwhile, brass sheets cutting and aluminium edged higher on mild buying support.

Tin and nickel dropped by Rs 10 per kilo each to Rs 1,340 and Rs 1,165 from last weekend's closing level of Rs 1,350 and Rs 1,175.

Copper armiture fell by Rs 3 per kilo to Rs 383 as against Rs 386 last saturday.

Copper sheets cutting and brass utensils scrap moved down by Rs 2 per kilo each to Rs 380 and Rs 263 from Rs 382 and Rs 265 previously.

 

Copper cable scrap, copper scrap heavy, copper utensils scrap, copper wire bar and zinc all softened by a rupee per kilo each to Rs 398, Rs 392, Rs 363, Rs 426 and Rs 124 respectively.

However, brass sheets cutting and aluminium ingots inched up by a rupee per kilo each to Rs 274 and Rs 123.