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Base metals strengthen on sustained demand, global cues

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Press Trust of India Mumbai
Most of the base metals prices advanced further at the non-ferrous metal market here today due to sustained stockists buying amidst consistent demand from industrial users.

Globally, the industrial metals firm up at the LME in early trade to hit a three-week peak as stronger crude oil prices lifted purchases of other commodities and set off a flurry of technical buying.

Tin shot-up by Rs 8 per kg to Rs 1,595 from last Saturday's closing level of Rs 1,587.

Copper scrap heavy and zinc climbed by Rs 4 per kg each to Rs 489 and Rs 180 from Rs 485 and Rs 176.
 

Copper utensils scrap gained by Rs 3 per kg to Rs 458 from Rs 455.

Copper cable scrap, copper wire bar and brass utensils scrap all moved up by Rs 2 per kg each to Rs 497, Rs 525 and Rs 337 from Rs 495, Rs 523 and Rs 335, respectively.

Copper sheet cutting, brass sheet cutting and lead inched up by a Re per kg each to Rs 474, Rs 356 and Rs 142.

However, aluminium utensils scrap edged down by Re 1 per kg to Rs 129.

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First Published: Jun 23 2014 | 4:39 PM IST

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