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Tin, Nickel drop on reduced demand

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Press Trust of India Mumbai
Tin prices dropped further at the non-ferrous metal market here today on sustained stockist selling amidst reduced demand from alloy industries.

Elsewhere, Nickel declined due to poor offtake from consumers industries.

Copper armiture also eased on poor buying support.

On the global front, base metals prices remained under pressure at the LME on worries over the crisis surrounding Greece as well as slowdown in the Chinese economy.

Nickel went down by Rs 10 per kg to Rs 1,410 as against to Rs 1,420 and tin also fell by Rs 8 per kg to Rs 1,072 from yesterday's closing level of Rs 1,080.
 

Copper armiture softened by a Re per kg to Rs 416 from Rs 417.

However, copper scrap heavy inched-up by a Re per kg to Rs 422.

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First Published: Feb 11 2015 | 5:00 PM IST

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