Base metals decline on stockists selling

Led by nickel, most of the base metals declined at the non-ferrous metal market here today due to heavy stockists selling despite recovering trend on the London Metal Exchange (LME).

Nickel prices dropped further by Rs 15 per kilo to Rs 1,075 from overnight closing level of Rs 1,090 and copper utensils scrap dipped by Rs 10 per kilo to Rs 330 as against Rs 340 yesterday.

Tin, brass utensils scrap and copper scrap heavy all slipped by Rs 5 per kilo each to Rs 940, Rs 250, Rs 354, respectively. Copper armiture fell by Rs 4 per kilo to Rs 349. 

 

Copper cable scrap, copper wire bar and brass sheet cutting all moved down by Rs 3 per kilo each to Rs 360, Rs 388 and Rs 260.

Copper sheet cutting, zinc, and lead eased by a rupee per kilo each to Rs 347, Rs 106 and Rs 104.