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Base metals slide on weak overseas trend

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Press Trust of India Mumbai

Industrial metals continued to trade subdued at LME, weighed down by concerns over global growth outlook amid cautiouness ahead of the Fed meet late this week.

Nickel slumped by Rs 10 per kilo to Rs 1,065 from Tuesday's closing level of Rs 1,075 and tin declined by Rs 5 per kilo to Rs 1,280 as compared to Rs 1,285.

Copper scrap heavy fell by Rs 4 per kilo to Rs 475 from Rs 479 previously.

Copper cable scrap and copper wire bar both moved down by Rs 3 per kilo each to Rs 483 and Rs 511 respectively, as against Rs 486 and Rs 514 yesterday.

 

Copper armature, copper utensils scrap, copper sheets cutting and brass utensils scrap all softened by a rupee per kilo each to Rs 468, Rs 442, Rs 462 and Rs 317, respectively.

  

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First Published: Aug 29 2012 | 5:35 PM IST

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