Base metals declines on bearish global cues

Select base metals declined at the non-ferrous metal market here today due to subdued stockists offtake amidst bearish global cues.

Meanwhile, copper scrap heavy and aluminium utensils rose on good demand from consumer industries.

Copper sheet cutting fell by Rs 6 per kilo to Rs 394 from overnight closing level of Rs 400 and copper utensils scrap dipped by Rs 5 per kilo to Rs 371 as against Rs 376 yesterday.

Copper armiture moved down by Rs 3 per kilo to Rs 399 from Rs 402 previously.

Copper cable scrap and copper wire bar both edged down by Rs 2 per kilo each to Rs 421 and Rs 449.

However, copper scrap heavy shot up by Rs 7 per kilo to Rs 422 from its Tuesday's closing level of Rs 415. Aluminium utensils scrap inched up by a rupee per kilo to Rs 102.