Most of the base metals recovered moderately at the non-ferrous metal market here today due to good stockists and industrial demand following firming trend in London Metal Exchange (LME).
The industrial metals showed a turnaround in LME on retreating oil prices eased worries on inflation hitting economic growth and metals demand, though nervousness remained due to unrest in Libya and Middle East.
Meanwhile, tin and aluminium utensils declined owing to subdued offtake from consumer industries. Nickel prices spurted by Rs 5 per kg to Rs 1,365 from overnight closing level of Rs 1,360.
Copper cable scrap, copper armiture and copper wire bar all rose by Rs 4 per kg each to Rs 473, Rs 455 and Rs 501 as against Rs 469, Rs 451 and Rs 497 previously.
Copper scrap heavy and copper sheet cutting gained Rs 3 per kg each to Rs 463 and Rs 448. Brass utensils scrap and brass sheet cutting both edged up by Rs 2 per kg each to Rs 312 and Rs 320.
Aluminium ingots and zinc inched up by a rupee per kg each to Rs 135 and Rs 133. However, tin fell by Rs 5 per kg to Rs 1,625 from Rs 1,630 and aluminium utensils scrap softened by a rupee per kg to Rs 106 from Rs 107 yesterday.
