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Base metals gains on industrial demand

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Press Trust of India Mumbai

Meanwhile, zinc softened due to reduced offtake from alloy industries.

Industrial metal slipped erasing its early gains at the LME as investors exercised caution ahead of a European leaders' summit aimed at resolving the region's debt crisis.

Nickel spurted by Rs 5 per kg to Rs 1,095 from Wednesday's closing level of Rs 1,090.

Copper scrap heavy and copper sheet cutting climbed by Rs 3 per kg each to Rs 475 and Rs 462 from Rs 472 and Rs 459.

Copper cable scrap, copper armiture and copper wire bar all went up by Rs 2 per kg each to Rs 482, Rs 467 and Rs 512 respectively.

 

Copper utensils scrap, brass utensils scrap, brass sheet cutting all inched up by a rupee each to Rs 444, Rs 317, and Rs 326.

However, zinc looked down by a rupee per kg to Rs 130.

  

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First Published: Jun 28 2012 | 5:05 PM IST

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