Tin zooms on heavy demand

Tin prices jumped at the non-ferrous metal market here today on emergence of hectic buying by stockists as well as strong demand from consuming industries.

"Besides buoyant demand from industrial users along with low inventory mainly caused the rise in tin prices, traders said. 

Tin shot up by Rs 110 per kilo to Rs 1,690 from Monday's closing level of Rs 1,580. Aluminium also moved up on renewed industrial support and gained by Rs 2 per kilo to Rs 106 as against Rs 104 previously.

However, copper and brass dropped owing to stockists offering coupled with reduced demand on the back of bearish trend at the London Metal Exchange (LME). 

Brass utensils scrap and brass sheets cutting both declined by Rs 6 per kilo each to Rs 310 and Rs 322 from overnight closing level of Rs 316 and Rs 328.

Copper cable scrap and copper armiture slipped by Rs 3 per kilo each to Rs 476 and Rs 454 respectively, as against Rs 479 and Rs 457 yesterday.

Copper scrap heavy and copper wire bar eased by Rs 2 per kiloe each to Rs 466 and Rs 506 respectively. Copper utensils scrap and copper sheets cutting also softened by a rupee per kilo each to Rs 426 and Rs 446.