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Base metals remain depressed on global cues

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Press Trust of India Mumbai

Base metals prices continued to decline at the non-ferrous metal market here today on the back of sustained selling from stockists coupled with reduced offtake from industrial users.

The trading sentiment was also affected by the overnight sharp fall in metal prices at the London Metal Exchange (LME).

Tin tanked by Rs 25 per kilo to Rs 1,085 from yesterday's closing level of Rs 1,110 and nickel dropped by Rs 7 per kilo to Rs 1,117, as against Rs 1,124 previously.

Copper scrap heavy lost Rs 5 per kilo to Rs 366 from Rs 371. Copper cable scrap and copper wire bar both fell by Rs 4 per kilo to Rs 372 and Rs 400, respectively.

 

Copper sheets cutting eased by Rs 3 per kilo to Rs 355 and copper armiture moved down by Rs 2 per kilo to Rs 360. Copper utensils scrap also softened by a rupee per kilo to Rs 344.

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First Published: Aug 12 2010 | 5:28 PM IST

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