Base metals slip on subdued demand

MUMBAI: Most of the base metals, including nickel, tin, copper, brass and lead prices slipped at the non-ferrous metal market here today on stockists selling amid subdued demand from industrial users.

Globally, the industrial metal copper edged up in early trade at the LME, as markets braced for a string of soft third-quarter growth reports out of Europe this week that are expected to highlight the fragile nature of metals demand.

Tin slumped by Rs 10 per kg to Rs 1,485 from Monday's closing level of Rs 1,495.

Nickel declined by Rs 5 per kg to Rs 1,090 from Rs 1,095.

Copper armiture fell by Rs 3 per kg to Rs 460 from Rs 463.

Copper utensils scrap and copper sheet cutting moved down by Rs 2 per kg each to Rs 435 and Rs 458 as against Rs 437 and Rs 460 yesterday.

Copper cable scrap, copper scrap heavy, copper wire bar, brass utensils scrap, brass sheet cutting and lead softened by a Re per kg each to Rs 482, Rs 474, Rs 510, Rs 329 Rs 341 and Rs 137, respectively.