Base metals decline on subdued demand, global cues

Most of the base metals declined at the non-ferrous metal market here today due to stockist selling amid subdued demand from industrial users.

In the industrial metal, copper slipped at the LME in early trade from its seven-week highs hit the session before as expectations of rising U S interest rates pushed up the dollar and flattened commodity prices.

Aluminium ingots fell by Rs 7 per kg to Rs 154 from monday's closing level of Rs 161.

Copper cable scrap and copper wire bar edged down by Rs 3 per kg each to Rs 441 and Rs 461 from Rs 444 and Rs 464.
 

Copper scrap heavy and copper armiture moved down by Rs 2 per kg each to Rs 437 and Rs 432 as against Rs 439 and Rs 434 previously.

Aluminium utensils and zinc softened by a Re per kg each to Rs 130 and Rs 171.