Base metals plunge on global cues

Base metals plunged at the non-ferrous metal market at Mumbai on Thursday on hectic stockist offloading following fall in London Metal Exchange (LME).
    
The industrial metals faltered at the LME after US Federal Reserve warning of 'significant downside risks', economic outlook dampened investors sentiment.
    
Nickel prices tumbled by Rs 40 per kilo to Rs 1,160 from overnight closing level of Rs 1,200 and tin slumped by Rs 25 per kilo to Rs 1,300 as against Rs 1,325.
    
Copper cable scrap, copper wire bar and copper sheet cutting all dropped by Rs 9 per kilo each to Rs 450, Rs 478 and Rs 428 as compared to Rs 459, Rs 487 and Rs 437 on Wednesday.
    
Copper utensils scrap dipped by Rs 8 per kilo to Rs 442. Copper scrap heavy and copper armiture both slid by Rs 7 per kilo each to Rs 442 and Rs 434.
    
Brass utensils scrap and brass sheet cutting both fell by Rs 4 per kilo each to Rs 297 and Rs 309.
    
Aluminium utensils scrap, zinc and lead all eased by a rupee per kilo each to Rs 108, Rs 122 and Rs 115 respectively.