Base metals turn weak on reduced industrial offtake

MUMBAI: Most of the base metals dropped at the non-ferrous metal market here today due to reduced offtake from industrial users coupled with stockists selling.

Meanwhile, zinc ended up marginally on mild buying support.

Tin and nickel declined by Rs 5 per kilo each to Rs 1,110 and Rs 1,115 from last Saturday's closing level of Rs 1,115 and Rs 1,120 respectively.

Copper cable scrap, copper scrap heavy, and copper wire bar fell by Rs 4 per kilo each to Rs 377, Rs 371 and Rs 405.

Copper sheets cutting moved down by Rs 3 per kilo to Rs 355.

Aluminium utensils scrap eased by Rs 2 per kilo to Rs 93. Copper armiture, copper utensils scrap, brass utensils scrap and lead softened by a rupee per kilo each to Rs 360, Rs 344, Rs 254 and Rs 109.

However, zinc inched up to Rs 121 from Rs 120 last weekend.