Tin, nickel recover on renewed demand

Tin, nickel, copper scrap heavy and brass sheet cutting prices recovered at non-ferrous metal market here today on stockists buying amid moderate demand from alloy industries.
Meanwhile, select copper, brass, aluminium and zinc prices declined due to reduced offtake from industrial users.
The industrial metal slipped at the LME in early trade after the Federal Reserve reaffirmed US interest rates would stay low in the short-term but suggested hikes may follow more quickly when they do arrive, pushing up the dollar and cutting the price of commodities.
Tin climbed by Rs 5 per kg to Rs 1,545 from Wednesday's closing level of Rs 1,540.

Nickel moved up by Rs 3 per kg to Rs 1,248 from Rs 1,245.
Copper scrap heavy and brass sheet cutting edged-up by a Re per kg to Rs 481 and Rs 356.

However, brass utensils scrap slipped by Rs 3 per kg to Rs 338 as against Rs 341 yesterday.
Copper utensils scrap moved down by Rs 2 per kg to Rs 442 from Rs 444.
Copper cable scrap, copper wire bar, aluminium ingots, aluminium utensils scrap and zinc softened by a Re per kg each to Rs 488, Rs 516, Rs 163, Rs 135 and Rs 189, respectively.