Base metals dip on global cues

Most of the base metals dipped at the non-ferrous metal market here today due to hectic stockist selling amidst subdued demand from industrial users on the back of fall in London Metal Exchange (LME).
The industrial metals fell 44-month low at the LME, as fears grew that credit-linked defaults in China could unlock copper from financing deals and unleash further selling.
Copper cable scrap, copper armiture, copper utensils scrap, copper wire bar, tin and nickel dropped by Rs 5 per kg each to Rs 487, Rs 475, Rs 456, Rs 515, Rs 1,575 and Rs 1,025 from Rs 492, Rs 480, Rs 461, Rs 520, Rs 1,580 and Rs 1,030.

Copper scrap heavy declined by Rs 4 per kg to Rs 481 as against Rs 485 yesterday.
Aluminium ingots slipped by Rs 3 per kg to Rs 151 from Rs 148.
Brass utensils scrap, brass sheet cutting and zinc moved down by Rs 2 per kg each to Rs 349, Rs 358 and Rs 173 from Rs 351, Rs 360 and Rs 175.
Copper sheet cutting softened by a Re per kg to Rs 472.