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Base metals gain on industrial offtake

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Press Trust of India Mumbai

Brass prices eased on lack of support from industrial users.

The industrial metal surged at the LME yesterday after an agreement by international lenders to reduce Greece's debt, lifted investor sentiment.

Tin and nickel shot-up by Rs 5 per kg each to Rs 1,355 and Rs 1,075 from Tuesday's closing level of Rs 1,350 and Rs 1,070.

Copper sheet cutting climbed by Rs 2 per kg to Rs 466 from Rs 464.

Copper cable scrap, copper scrap heavy, copper armature, copper utensils scrap, copper wire bar and zinc inched up by Re 1 per kg each to Rs 489, Rs 479, Rs 470, Rs 445, Rs 517 and Rs 141, respectively.

 

However, brass utensils scrap and brass sheet cutting softened by Re 1 per kg to Rs 320 and Rs 330.

  

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First Published: Nov 28 2012 | 4:35 PM IST

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