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Base metals gains on firm demand

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Press Trust of India Mumbai
Last Updated : Jul 25 2014 | 4:45 PM IST
Nickel, copper and zinc prices gained at the non-ferrous metal market here today on stockists buying amidst firm demand from industrial users.
Meanwhile, tin slipped due to stockist selling following reduced offtake from alloy industries.
The industrial metal edged down in early trade at the LME, but was still set to log its fifth weekly advance in six, as investors grow more positive towards metals given encouraging signs of economic revival and a brighter outlook for China in particular.
Nickel climbed by Rs 5 per kg to Rs 1,250 from Thursday's closing level of Rs 1,245.
Copper cable scrap, copper scrap heavy, copper wire bar and zinc edged-up by a Re per kg each to Rs 496, Rs 490, Rs 524 and Rs 195, respectively.
However, tin declined by Rs 5 per kg to Rs 1,575 as against Rs 1,580 yesterday.

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First Published: Jul 25 2014 | 4:45 PM IST

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