Tin drops on lower demand

Tin prices dropped at the non-ferrous metal market here today on stockist selling amidst lower demand from alloy industries on the back bearish London Metal Exchange (LME) cues.

Meanwhile, select copper, brass and lead edged-up on good offtake from consumer industries.

The industrial metals edged-down at LME, after top consumer China unveiled weighty reform measures that offered little immediate support to demand for the metal.

Tin fell by Rs 5 per kg to Rs 1,580 from last Saturday's closing level of Rs 1,585.

Copper scrap heavy, brass utensils scrap moved down by Rs 2 per kg each to Rs 487 and Rs 342 from Rs 497 and Rs 344.
 

Copper utensils scrap and zinc softened by Re 1 per kg each to Rs 452 and Rs 160, respectively.

However, brass sheet cutting moved-up by Rs 2 per kg to Rs 352 from Rs 350.

Copper cable scrap, copper wire bar and lead inched-up by Re 1 per kg each to Rs 498, Rs 526 and Rs 130.