06 JULY 2011http://www.business-standard.com/
Base metals decline on global cues
Edited by : AL CIRCLE
1 min read
Most of base metals declined at the non-ferrous metal market here today due to stockist selling amidst lacklustre trade on the back bearish global sentiment. Meanwhile, aluminium utensils moved up on better demand from consumer industries.
The industrial metals ended lower at the LME on worries over possible interest rate hike in China. Nickel prices dropped by Rs 10 per kg to Rs 1,200 from overnight closing level of Rs 1,210.
Copper sheet cutting and brass sheet cutting fell by Rs 3 per kg each to Rs 441 and Rs 316 from Monday's closing level of Rs 444 and Rs 319.
Copper cable scrap, copper wire bar and brass utensils scrap all edged down by Rs 2 per kg each to Rs 467, Rs 495 and Rs 305 respectively.
Copper scrap heavy and copper utensils scrap also softened by a rupee per kg each to Rs 458 and Rs 424 respectively. However, aluminium utensils scrap inched up by a rupee per kg to Rs 108.
The industrial metals ended lower at the LME on worries over possible interest rate hike in China. Nickel prices dropped by Rs 10 per kg to Rs 1,200 from overnight closing level of Rs 1,210.
Copper sheet cutting and brass sheet cutting fell by Rs 3 per kg each to Rs 441 and Rs 316 from Monday's closing level of Rs 444 and Rs 319.
Copper cable scrap, copper wire bar and brass utensils scrap all edged down by Rs 2 per kg each to Rs 467, Rs 495 and Rs 305 respectively.
Copper scrap heavy and copper utensils scrap also softened by a rupee per kg each to Rs 458 and Rs 424 respectively. However, aluminium utensils scrap inched up by a rupee per kg to Rs 108.
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