Base metals plunged at the non-ferrous metal market here today due to stockist unwinding amidst subdued demand from industries under the impact global commodity selloff.
The industrial metals tumbled at the LME on US economic recovery fears triggering a massive selloff in commodities and equities.
Tin and nickel both plummeted by Rs 35 and Rs 20 per kg to Rs 1,410 and Rs 1,210 respectively from overnight closing level of Rs 1,445 and Rs 1,230 previously.
Copper cable scrap and copper wire bar dropped by Rs 9 per kg each to Rs 464 and Rs 492 as against Rs 473 and Rs 501 previously.
Copper scrap heavy dipped by Rs 8 per kg to Rs 456 from Rs 464 and copper utensils scrap slid by Rs 6 per kg to Rs 419 as compared to Rs 425 yesterday.
Copper armiture and brass utensils scrap both slipped by Rs 5 per kg to each to Rs 446 and Rs 300 respectively. Brass sheet cutting fell by Rs 4 per kg to Rs 315 and copper sheet cutting by Rs 3 per kg to Rs 442.
Zinc and lead also moved down by Rs 2 per kg each to Rs 125 and Rs 118.