Base metals drops on global cues

Copper, brass and nickel prices dropped further at the non-ferrous metal market here today on sustained selling by stockists amidst subdued demand from industrial users on the back of bearish London Metal Exchange (LME) cues.
However, tin and lead prices recovered on renewed offtake from consumer industries.
At the London Metal Exchange (LME), copper clung above the USD 6,000-mark in early trade, but stayed within reach of five-year lows as beleaguered oil markets soured on broader appetite for commodities ahead of key China trade data later in the session.
Nickel dipped by Rs 10 per kg to Rs 1,100 from Monday's closing level of Rs 1,110.

Copper utensils scrap fell by Rs 7 per kg to Rs 398 from Rs 405 and copper armiture eased by Rs 6 per kg to Rs 416 as compared to Rs 422 previously.
Copper cable scrap and copper wire bar went down by Rs 5 per kg each to Rs 443 and Rs 471 from Rs 448 and Rs 476.

Copper scrap heavy, copper sheet cutting and brass utensils scrap declined by Rs 4 per kg each to Rs 433, Rs 413 and Rs 312 from Rs 437, Rs 417 and Rs 316, respectively.
Brass sheet cutting moved down by Rs 3 per kg to Rs 320 from Rs 323.

Brass honey softened by a Re per kg to Rs 318.
However, tin climbed by Rs 10 per kg to Rs 1,480 as against Rs 1,470 yesterday.
Lead moved up by Rs 2 per kg to Rs 134 from Rs 132.