Base metals slip on global cues

Most of the base metals slipped at the non-ferrous metal market here today on stockists selling amidst subdued industrial offtake following lower LME advices.

Meanwhile, copper sheet cutting and brass utensils scraps inched up on better offtake from industrial users.

The industrial metals eased at the LME on strengthening dollar against basket currencies amidst uncertainty over global economic outlook prompting investors to stay cautious.

Nickel, tin and brass sheet cutting fell by Rs 5 per kg each to Rs 1,170, Rs 1,315 and Rs 307 from last Saturday's closing level of Rs 1,175, Rs 1,320 and Rs 312.

Lead moved down by Rs 3 per kg to Rs 116 from Rs 119 previously.  

 

Copper cable scrap and copper wire bar both edged down by Rs 2 per kg each to Rs 455 and Rs 483.  

Copper scrap heavy, copper utensils scrap, aluminium utensils scrap and zinc all softened by a rupee per kg each to Rs 445, Rs 407, Rs 106 and Rs 123, respectively.

However, copper sheet cutting and brass utensils scrap inched up by Re per kg each to Rs 433 and Rs 298.