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Base metals prices dropped at the non-ferrous metal market here today on stockists selling amid subdued industrial demand on the back lower London Metal Exchange (LME) cues.
The industrial metals slid at the LME to a six-week low hit by a strong dollar and lack of robust demand from top metals consumer China as the market gave up more gains from its September rally.
Nickel slumped by Rs 10 a kg to Rs 1,050 from Monday’s closing level of Rs 1,060 and Tin dipped by Rs 5 a kg to Rs 1,315 from Rs 1,320.
Copper scrap heavy and brass utensils scrap slipped by Rs 4 a kg each to Rs 473 and Rs 320 from Rs 477 and Rs 324.
Copper armature, copper wire bar and copper sheet cutting declined by Rs 3 a kg each to Rs 465, 510 and Rs 460 from Rs 468, 513 and Rs 463.
Copper utensils scrap and brass sheet cutting edged down by Rs 2 a kg each to Rs 441 and Rs 331 as against Rs 443 and Rs 333 yesterday.
Copper cable scrap, aluminium utensils and lead all softened by Re 1 a kg each to Rs 484, Rs 112 and Rs 123, respectively.
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