BS:Select base metal prices decline on global cues
Select base metal prices declined further at the non-ferrous metal market here today on persistent stockist selling amidst poor demand from industrial users on back of lower London Metal Exchange (LME) cues.
The industrial metals slipped to its lowest in eight- month at the London Metal Exchange (LME) after weak jobs data sparked worries a US labour market recovery may not prove sustained, hurting demand expectations for metals in a thin market.
Tin dropped by Rs 5 per kg to Rs 1,415 from Wednesday's closing level of Rs 1,420.
Copper cable scrap, copper armiture and copper wire bar moved down by Rs 477, Rs 457 and Rs 505 from Rs 479, Rs 459 and Rs 455.
Copper scrap heavy, copper utensils scrap, brass utensils scrap, brass utensils scrap, brass sheet cutting and zinc all softened by a rupee per kg each to Rs 470, Rs 435, Rs 320, Rs 330 and Rs 139, respectively.
