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Tin prices 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 stockist selling amid reduced demand from alloy industries.

Elsewhere, zinc and select copper eased further due to lower offtake from industrial users.

Meanwhile, brass and select copper recovered on renewed demand from consumer industries.

In overseas markets, London copper climbed in early trade away from three-week lows as markets resumed after a long weekend, buoyed by comments from a Federal Reserve official that soothed concerns about an imminent rise in US interest rates.

Tin dipped by Rs 10 per kg to Rs 1,230 from Monday's closing level of Rs 1,240.
 

Copper sheet cutting moved down by Rs 2 per kg to Rs 430 from Rs 432.

Copper cable scrap, copper scrap heavy, copper wire bar and zinc softened by a Re per kg each to Rs 455, Rs 450, Rs 475 and Rs 185, respectively.

However, Copper armiture, Copper utensils scrap, brass sheet cutting and brass sheet cutting gained by Rs 2 per kg each to Rs 437, Rs 412, Rs 318 and Rs 327 from Rs 435, Rs 410, Rs 316 and Rs 325.

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First Published: May 26 2015 | 4:13 PM IST

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