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Select base metals rise on good demand, global cues

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Press Trust of India Mumbai
Base metals, including select copper, brass rose at the non-ferrous metal market here today on stockist buying as well as good industrial demand, lifted by higher global cues.

While, tin fell on stockist selling following subdued demand from alloy industries.

On global front, the industrial metal copper edged higher in early LME trade recouping some of last session's losses, while aluminium rose from a six-year low with positive Chinese data underpinning industrial metals although gains were capped by a stronger dollar.

Copper wire bar surged by Rs 8 per kg to Rs 427 from Wednesday's close of Rs 419 and brass utensils scrap climbed by Rs 6 per kg to Rs 295 from Rs 289.
 

Copper sheet cutting moved up by Rs 3 per kg to Rs 374 from overnight close of Rs 371.

Copper armiture and copper utensils scrap also edged up by 2 per kg each to Rs 380 and Rs 360 as compared to Rs 378 and Rs 358 yesterday.

However, tin dropped by Rs 10 per kg to Rs 1,170 from its previous level of Rs 1,180 and brass sheet cutting softened by a Re per kg to Rs 304.

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First Published: Aug 06 2015 | 4:42 PM IST

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