Business Standard

Base metals drop on global cues

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Press Trust of India Mumbai

The industrial metals slid at the LME to a six-week low hit by a strong dollar and lack of robust demand from top metals consumer China as the market gave up more gains from its September rally.

Nickel slumped by Rs 10 per kg to Rs 1,050 from Monday's closing level of Rs 1,060 and Tin dipped by Rs 5 per kg to Rs 1,315 from Rs 1,320.

Copper scrap heavy and brass utensils scrap slipped by Rs 4 per kg each to Rs 473 and Rs 320 from Rs 477 and Rs 324.

Copper armature, copper wire bar and copper sheet cutting declined by Rs 3 per kg each to Rs 465, 510 and Rs 460 from Rs 468, 513 and Rs 463.

 

Copper utensils scrap and brass sheet cutting edged down by Rs 2 per kg each to Rs 441 and Rs 331 as against Rs 443 and Rs 333 yesterday.

Copper cable scrap, aluminium utensils and lead all softened by Re 1 per kg each to Rs 484, Rs 112 and Rs 123, respectively.

  

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First Published: Oct 23 2012 | 4:55 PM IST

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