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Copper gains on good offtake, global cues

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Press Trust of India Mumbai

Meanwhile, tin and select brass declined on reduced demand from alloy industries.

Industrial metals were trading better at the LME on shortcovering following improved sentiment over reduced fears on Greece quitting eurozone, though cautiousness over Spain financess and copper inflows from China capped the gains.

Copper cable scrap, copper armiture and copper wire bar rose by Rs 4 per kg each to Rs 484, Rs 463 and Rs 512 from Thursday's close of Rs 480, Rs 463 and Rs 512.

Copper scrap heavy and copper sheet cutting both moved up by Rs 3 per kg to Rs 475 and Rs 458 from overnight close of Rs 475 and Rs 458.

 

Copper utensils scrap and brass sheet cutting also inched up by Re 1 per kg to Rs 439 and Rs 324.

However, tin fell by Rs 5 per kg to 1,330 from Rs 1,335 yesterday and brass utensils scrap softened by a rupee per kg to Rs 315.

  

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First Published: May 18 2012 | 5:35 PM IST

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