Base metals decline on stockist selling

Published: Friday, January 14, 2011, 17:15 [IST]
 

Mumbai, Jan 14 (PTI) Most of the base metals declined atthe non-ferrous metal market here today due to stockistsselling amidst bearish trend at the London Metal Exchange(LME).

Meanwhile, Aluminium prices moved up on better offtakefrom industrial users.

Nickel and tin both dropped by Rs 20 per kilo each toRs 1,230 and Rs 1,410 from Thursday''s closing level of Rs1,250 and Rs 1,430.

Copper armiture fell by Rs 3 per kilo to Rs 430 asagainst Rs 433 previously.

Copper cable scrap, copper wire bar and copper sheetcutting edged down by Rs 2 per kilo each to Rs 449, Rs 477and Rs 425 respectively.

Copper scrap heavy and brass utensils scrap inched downby a rupee per kilo each to Rs 442 and Rs 299 respectively.

However, Aluminium ingots and aluminium utensils scrapboth looked up by a rupee per kilo each to Rs 131 and Rs 106.

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