Base metals slide on lower global cues

Base metals slid further in an otherwise sluggish non-ferrous metal market here today due to stockists offloading on the back of bearish trend at the London Metal Exchange (LME).

Nickel prices dropped by Rs 10 per kilo to Rs 1,185 from overnight closing level of Rs 1,195.

Copper cable scrap, copper wire bar and copper sheet cutting fell by Rs 4 per kilo each to Rs 417, Rs 445 and Rs 390 from Rs 421, Rs 449 and Rs 394 previously.

Copper scrap heavy and copper armiture both moved down by Rs 3 per kilo each to Rs 408 and Rs 396.  

Aluminium utensils scrap edged down by Rs 2 per kilo to Rs 100.

Brass utensils scrap, zinc and lead all softened by a rupee per kilo each to Rs 271, Rs 126 and Rs 109 respectively.