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Tin, nickel slip on reduced demand

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Press Trust of India Mumbai
Tin and nickel slipped at non- ferrous metal market here today on stockists selling amid reduced demand from alloy industries.

Elsewhere, select copper and brass also edged down due to lower offtake from consumer industries.

The industrial metal was trading flat at the LME in early trade as concerns simmered over the timing of a possible US rate hike, while signs of slowing growth in top metals user China also dragged.

Tin and nickel declined by Rs 5 per kg each to Rs 1,540 and Rs 1,243 from Thursday's closing level of Rs 1,545 and Rs 1,248.

Copper cable scrap, copper scrap heavy, copper armature, copper wire bar and brass sheet cutting all softened by a Re per kg each to Rs 487, Rs 480, Rs 468, Rs 515 and Rs 355 from Rs 488, Rs 481, Rs 469, Rs 516 and Rs 356, respectively.
 

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First Published: Sep 19 2014 | 4:30 PM IST

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