Base metals firm up on good demand, global cues

Most of the base metals firmed up at the non-ferrous metal market here today on sustained stockists buying amidst good demand from industrial users.
Meanwhile, tin dropped owing subdued offtake from alloy industries.
The industrial metals trading higher at the LME in early trade following reports of Chinese leaders reaffirmed a 7.5 per cent economic growth target this year.
Nickel strengthened Rs 15 per kg to Rs 1,225 from Monday's close of Rs 1,210 and copper sheet cutting rose by Rs 4 per kg to Rs 464 from Rs 460.
Copper cable scrap, copper scrap heavy, copper armature and copper wire bar all moved up by Rs 2 per kg to Rs 485, Rs 477, Rs 465 and Rs 513 from overnight close of Rs 483, Rs 475, Rs 463 and Rs 511, respectively.

Brass sheet cutting and zinc inched up by a Re per kg to Rs 354 and Rs 175.
However, tin fell by Rs 5 per kg to Rs 1,590 as against Rs 1,595 previously and brass utensil scrap softened by Re 1 per kg to Rs 328.