Base metals declines on global cues

Posted By: Pti
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Mumbai, Jan 25 (PTI) Most of the base metals declinedat the non-ferrous metal market here today due to stockistsselling as well as lower industrial offtake amidst bearishtrend at the London Metal Exchange (LME).

Meanwhile, tin prices moved up on rising demand fromalloy industries.

Nickel prices dropped by Rs 5 per kilo to Rs 1,270 fromovernight closing level of Rs 1,275.

Copper cable scrap and copper wire bar both fell by Rs 4per kilo each to Rs 451 and Rs 479 from Rs 455 and Rs 483previously.

Copper scrap heavy, copper armiture and copper sheetcutting all moved down by Rs 3 per kilo each to Rs 443,Rs 432 and Rs 425 respectively.

Brass utensils scrap edged down by Rs 2 per kilo to Rs303.

Copper utensils scrap and brass sheet cutting bothsoftened by a rupee per kilo each to Rs 406 and Rs 310.

However, tin firmed up by Rs 5 per kilo to RS 1,440 fromyesterday''s closing level of Rs 1,435.

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