Select base metals gains further on global cues

Select base metals continued to gain at the non-ferrous metal market here today on sustained buying by stockists and increased industrial offtake on the back of a rising trend at the London Metal Exchange (LME). Meanwhile, select copper, nickel and brass prices declined due to subdued demand from consumer industries. Tin prices surged by Rs 15 per kilo to Rs 1,525 from its overnight closing level of Rs 1,510. Copper sheet cutting firmed up by Rs 3 per kilo to Rs 443 as against Rs 440 previously. Copper armiture and copper utensils scrap both edged up by Rs 2 per kilo each to Rs 447 and Rs 418. Lead inched up by a rupee per kilo to Rs 119. However, nickel fell by Rs 5 per kilo to Rs 1,325 from Wednesday's closing level of Rs 1,330 and brass utensils scrap slipped by Rs 4 per kilo to Rs 310 from Rs 314 yesterday. Copper cable scrap, copper scrap heavy, copper wire bar and brass sheet cutting all moved down by Rs 3 per kilo each to Rs 466, Rs 457, Rs 494 and Rs 320 respectively.