Base metals prices recovered in the non-ferrous metal market here today due to renewed buying from stockists coupled with strong industrial offtake, influenced by buoyant overseas trend.
In London Metal Exchange, base metals traded higher underpinned by positive US housing data and weakening dollar valuations.
Nickel rose by Rs 15 per kilo to Rs 1,330 from its overnight closing level of Rs 1,315. Lead strengthened by Rs 8 per kilo to Rs 138 as against Rs 130 previously.
Copper sheets cutting rose by Rs 6 per kilo to Rs 446 as compared to Rs 440 previously, while tin firmed up by Rs 5 per kilo to Rs 1,640 from Rs 1,635 yesterday.
Copper cable scrap, copper scrap heavy, copper armiture and copper wire bar all moved up by Rs 4 per kilo each to Rs 470, Rs 459, Rs 452 and Rs 498, respectively.
Copper utensils scrap, brass utensils scrap and brass sheets cutting gained Rs 3 per kilo each to Rs 427, Rs 316 and Rs 323, respectively.
