Base metals remain weak on global cues

Base metals weakened further at the non-ferrous metal market here today on continuous offering by stockists as well as poor industrial offtake on the back of bearish trend in London Metal Exchange (LME).

Meanwhile, copper sheet cutting edged up on mild support from consumer industries. Nickel prices fell by Rs 5 per kg to Rs 1,385 from yesterday's closing level of Rs 1,390.

Tin, copper cable scrap, copper scrap heavy and copper wire bar moved down by Rs 3 per kg each to Rs 1,682, Rs 464, Rs 454 and Rs 492 respectively.

Copper armiture and brass sheet cutting both edged down by Rs 2 per kg each to Rs 443 and Rs 313. Brass utensils scrap also softened by a rupee per kg to Rs 302.

 

However, copper sheet cutting inched up by a rupee per kg to Rs 438.