Tin drops on reduced offtake, copper gains

Tin and aluminium prices dropped at the non-ferrous metal market here today on reduced offtake from industrial users.
Select copper, brass and lead prices gained due to better demand from consumer industries.
The industrial metal was trading lower at the LME, in backdrop of prospects that the Federal Reserve could soon trim its commodity-friendly stimulus.
Tin fell by Rs 5 per kg to Rs 1,575 from Thursday's closing level of Rs 1,580.
Aluminium ingots moved down by Rs 3 per kg to Rs 145 from Rs 148.
Copper sheet cutting and zinc softened by Re 1 per kg each to Rs 479 and Rs 162, respectively.

However, copper cable scrap, copper scrap heavy, copper armature, copper utensil scrap, copper wire bar, brass utensil scrap and lead prices inched-up by Re 1 per kg each to Rs 507, Rs 499, Rs 487, Rs 461, Rs 535, Rs 348 and Rs 134, respectively.