Base metals slip on reduced industrial demand

Copper, brass and nickel prices slipped at the non-ferrous metal market here today on selling by stockists amidst reduced demand from industrial users.
At the London Metal Exchange (LME), copper moved unsteadily towards fresh four-and-a-half year lows in early trade with investors betting that further losses were to come given the tepid demand growth situation in China and the US.
Nickel and copper dropped by Rs 5 per kg each to Rs 1,110 and Rs 405 from last Saturday's closing level of Rs 1,115 and Rs 410.
Copper scrap heavy fell by Rs 4 per kg to Rs 437 from Rs 441.

Copper cable scrap and copper wire bar declined by Rs 3 per kg each to Rs 448 and Rs 476 from Rs 451 and Rs 479.
Rates of copper armiture and brass utensil scrap moved down by Rs 2 per kg each to Rs 422 and Rs 316 from Rs 424 and Rs 318.
Copper sheet cutting and brass sheet cutting prices softened by a rupee per kg each to Rs 417 and Rs 323, respectively.