Tin slumps on selling, subdued demand

Tin prices slumped at non-ferrous metal market here today due to sustained stockists selling amidst subdued demand from alloy industries.
Meanwhile, select copper and brass moved up owing to good demand from industrial users.
The industrial metal copper was trading flat in early trade and was marking time as the dollar eased from recent peaks with traders waiting for a Federal Reserve meeting this week for clues on when the US central bank may raise interest rates.
Tin prices dropped by Rs 15 per kg to Rs 1,540 from Monday's closing level of Rs 1,555.
Lead softened by Re 1 per kg to Rs 139.

However, brass sheet cutting climbed by Rs 3 per kg to Rs 354 as against Rs 351 yesterday.
Copper utensils scrap and brass utensils scrap moved up by Rs 2 per kg to Rs 443 and Rs 340 from Rs 441 and Rs 338, respectively.
Copper cable scrap, copper armature and copper wire bar inched-up by Re 1 per kg to Rs 488, Rs 468 and Rs 516.