Base metals extend fall on lower industrial demand

Most of the base metals fell further at the non-ferrous metal market here today on sustained stockists selling amidst lower demand from industrial users.
Meanwhile, Nickel and zinc gained owing to firm demand from alloy industries.
At the London Metal Exchange (LME), the industrial metal copper gained slightly in early trade, but remained near 4-1/2 year lows and was set to chalk up a fourth weekly loss on ongoing worries about demand from top consumer China and fragile growth in Europe.
Copper utensils scrap and brass sheet cutting dropped by Rs 8 per kg each to Rs 408 and Rs 324 from Rs 416 and Rs 332.

Copper armiture and copper sheet cutting dipped by Rs 7 per kg each to Rs 423 and Rs 420 from Rs 430 and Rs 427.
Tin and brass utensils scrap slip by Rs 5 per kg each to Rs 1,480 and Rs 317 from Rs 1,485 and Rs 322.

Copper cable scrap and copper wire bar eased by Rs 3 per kg each to Rs 450 and Rs 478 as against Rs 453 and Rs 481.
Copper scrap heavy, aluminium utensils scrap and brass honey scrap moved down by Rs 2 per kg each to Rs 441, Rs 132 and Rs 319 from Rs 443, Rs 132 and Rs 321.

However, nickel rose by Rs 5 per kg to Rs 1,125 as compared to Rs 1,120.
Zinc inched up by a Re per kg to Rs 179.