Tin, nickel surge on sustained demand

Tin and Nickel prices surged at the non-ferrous metal market here today on stockist buying amid sustained demand from alloy industries.
Meanwhile, select copper, brass and aluminium slipped due to lower offtake from consumer industries.
The Industrial metals skidded to within sight of its lowest in early trade, as concerns over geopolitical tensions in Iraq and Ukraine clouded the outlook for demand amid thin summer trade.
Nickel climbed by Rs 10 per kg to Rs 1,250 from Monday's closing level of Rs 1,240.
Tin gained by Rs 5 per kg to Rs 1,590 from Rs 1,585.
Aluminium ingots moved down by Rs 3 per kg to Rs 169 as against Rs 172 yesterday.

Copper scrap heavy, copper armiture, copper utensils scrap, brass utensils scrap and brass sheet cutting all softened by Re 1 per kg each to Rs 489, Rs 471, Rs 448, Rs 338 and Rs 355, respectively.