Base metal futures dropped on the opening day of the week on cues from the global markets.

On Friday, the commodity complex closed lower globally and domestic futures followed the pattern on Monday.

Nickel was the most hit as June, July and August contracts dropped over three per cent. June contract slipped to Rs 869.60 a kg, July to Rs 879.20 and August to Rs 889.40.

Copper hit the lower circuit of two per cent soon after trading began.

June contract slid to Rs 397.50 a kg from Rs 407.60 on Saturday, a fall of 2.44 per cent. August contract slipped 2.46 per cent to Rs 402.50 and November to Rs 408.95 (418.75).

Crude oil September contract dropped 2.02 per cent to Rs 4,661 a barrel, while July was down to Rs 4,579 (Rs 4,668) and August to Rs 4,623 (Rs 4,711).

Lead August contract slipped 2.05 per cent to Rs 105 a kg, while June was down 1.75 per cent at Rs 103.70 a kg.

All zinc contracts, too, declined by over one per cent with the June contract last quoting at Rs 103.15.

mrsubramani@thehindu.co.in