Base metals fall on selling, lower demand

Led by nickel, most of the base metals fell at the non-ferrous metal market here today on stockist selling amidst subdued demand from industrial users.
While, tin recovered smartly on renewed demand from alloy industries.
Globally, the industrial metals copper trading stable, but failed to find fresh upside momentum even as the dollar sank, reflecting plentiful supply and persistent concerns over industrial demand in top consumer China.
Nickel dropped by Rs 15 per kg to Rs 900 from Tuesday's closing level of Rs 915 and copper scrap heavy dipped by Rs 6 per kg to Rs 413 from Rs 419.

Copper cable scrap, copper wire bar and copper sheet cutting slid by Rs 5 per kg each to Rs 419, Rs 439 and Rs 399 from overnight close of Rs 424, Rs 444 and Rs 404.
Copper utensils scrap and aluminium ingots moved down by Rs 3 per kg each to Rs 378 and 139 from Rs 381 and Rs 142.
Copper armiture, brass utensils scrap, brass sheet cutting, aluminium utensils scrap and zinc all edged down by Rs 2 per kg to Rs 407, Rs 295, Rs 312, Rs 121, Rs 171 from Rs 409, Rs Rs 297, Rs 314, Rs 123 and Rs 173 respectively.

However, tin spurted by Rs 10 per kg to Rs 1,145 from previous closing level of Rs 1,155 and lead added by Rs 2 per kg to Rs 128 from Rs 126.