Base metals firm up on good industrial demand

Base metals firmed up at the non-ferrous metal market here today on stockists buying amid steady demand from industrial users.
Meanwhile, tin dropped owing to stockists selling.
On the global front, industrial metal copper slipped on early trade from its six-week highs hit in the prior session, as China returned from a week long holiday and resumed selling on the prospect of ample local supply.
Nickel spurted by Rs 10 per kg to Rs 1,040 from Tuesday's closing level of Rs 1,030.
Copper sheet cuttings rose by Rs 4 per kg to Rs 420 from overnight closing level of Rs 416.

Copper cable scrap, copper armiture and copper wire bar moved up by Rs 2 per kg each to Rs 433, Rs 424 and Rs 453 as against to Rs 431, Rs 426 and Rs 451 respectively.

Copper scrap heavy, brass utensils scrap and lead inched up by a Re per kg each to Rs 427, Rs 316 and Rs 136.
However, tin plunged by Rs 15 per kg to Rs 1,380 from overnight closing level of Rs 1,395 and copper utensils scrap edged down by Rs 2 per kg to Rs 403 from Rs 405.
Brass sheet cuttings and zinc also softened by Re per kg each to Rs 324 and Rs 172.