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Base metals rise on industrial demand, global cues

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Press Trust of India Mumbai

Meanwhile, brass declined on lower demand from consumer industries.

Industrial metals firmed up at the LME on good investor offtake after G8 leaders weekend meeting vowed to take steps to tackle financial turmoil threatened by eurzone debt crisis, though cautiousness prevailed on concerns over Greece.

Copper cable scrap and copper wire bar spurted by Rs 6 per kg to RS 490 and Rs 518 from last Saturday's closing level of Rs 484 and Rs 518.

Copper scrap heavy, tin and nickel rose by Rs 5 per kg each to Rs 480, Rs 1,335 and Rs 1,090 from previous close of Rs 475, Rs 1,330 and Rs 1,085.

 

Copper armiture went up by Rs 4 per kg to Rs 468 from Rs 464 and copper sheet cutting edged up by Rs 2 per kg to Rs 462 from 460 last weekend.

Copper utensils scrap, zinc and lead inched up by a rupee per kg each to Rs 442, Rs 129 and Rs 119 respectively.

However, Brass utensils scrap fell by Rs 4 per kg to Rs 313 and brass sheet cutting slipped by Rs 3 per kg to Rs 323.

  

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First Published: May 21 2012 | 4:45 PM IST

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