Base metal prices down at markets

Base metal prices dropped sharply at the non-ferrous metals market here on Monday on consistent selling by stockists amid sluggish industrial demand following continued downslide at the London Metal Exchange (LME).

The industrial metals were trading lower at the LME on concerns over Greece deficit target amid global economic worries.

Copper sheets cutting plunged by Rs 17 per kilo to Rs 389 from last Saturday's close of Rs 406.

Tin and copper armiture both slumped by Rs 10 per kilo each to Rs 1,240 and Rs 396, respectively.

Copper scrap heavy slid by Rs 9 per kilo to Rs 402 as against Rs 411 previously.

Copper cable scrap and copper wire bar both went down by Rs 8 per kilo each to Rs 410 and Rs 438, respectively.

Nickel declined by Rs 5 per kilo to Rs 1,085 from Rs 1,090.

Copper utensils scrap and brass sheets cutting fell by Rs 4 per kilo each to Rs 382 and Rs 292, respectively.

Brass utensils scrap moved down by Rs 3 per kilo to Rs 283.

Zinc edged down by Rs 2 per kilo to Rs 119.

Lead and aluminium utensils scrap softened by a rupee per kilo each to Rs 113 and Rs 107, respectively.