Base metals decline on stockists selling

Most of the base metals declined at the non-ferrous metal market here today on hectic stockist selling despite higher London Metal Exchange (LME) advices.

Meanwhile, tin and copper utensils moved up further on better offtake from consumer industries.

In overseas market, base metals surged in its overnight trade at LME on expectation of faster global economic recovery.

Nickel prices declined by Rs 15 per kg to 1,215 from yesterday's closing level of Rs 1,230.

Copper cable scrap, copper scrap heavy, copper wire bar and brass utensils scrap all moved down by Rs 3 per kg each to Rs 454, Rs 446, Rs 482, and Rs 303 respectively.

Copper armiture and brass sheet cutting both edged down by Rs 2 per kg each to Rs 438 and Rs 313.

Zinc softened by a rupee per kg to Rs 133.

However, tin rose by Rs 5 per kg to Rs 1,410 as against Rs 1,405 previously and copper utensils looked up by one rupee per kg to Rs 407 from Rs 406.