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Select base metals surge on industrial demand

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Press Trust of India Mumbai

Tin prices spurted at the non-ferrous metal market here today due to heavy stockists demand amidst higher offtake from alloy industries.

Elsewhere, nickel, lead, zinc, brass utensils scrap and select copper also firmed up on good demand from consumer industries.

Meanwhile, copper cable scrap, copper wire bar and brass sheet cutting edged lower owing to subdued offtake from industrial users.

Tin prices shot up by Rs 30 per kilo to Rs 1,700 from its overnight closing level of Rs 1,670 and nickel strengthened by Rs 17 per kilo to Rs 1,395 as against Rs 1,378 previously.

Lead and copper sheet cutting both edged up by Rs 2 per kilo each to Rs 120 and Rs 449.

 

Zinc, brass utensils scrap, copper utensils scrap and copper armiture all inched up by a rupee per kilo each to Rs 134, Rs 316, Rs 427 and Rs 456 respectively.

However, copper cable scrap and copper wire bar moved down by Rs 2 per kilo each to Rs 475 and Rs 503. Brass sheet cutting softened by a rupee per kilo to Rs 325.

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First Published: Feb 15 2011 | 6:16 PM IST

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