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Tin extends gains on firm demand

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Press Trust of India Mumbai
Tin and select copper extended gains at the non-ferrous metal market here today on buying by stockists amid firm demand from alloy industries.

While, select copper prices eased due to mild demand from industrial users.

On the global front, the industrial metal copper took a breather in early trade but was set to log its second weekly gain as bets for monetary easing in Europe fuelled a short-covering rally that traders expected to gain steam, given light holiday trade.

Tin rose by Rs 10 per kg to Rs 1,160 from Thursday's closing level of Rs 1,150.

Copper utensils scrap and copper sheet cutting moved up by Rs 2 per kg each to Rs 380 and Rs 398 from Rs 378 and Rs 396, respectively.
 

Copper armiture edged up by a Re per kg to Rs 402.

However, copper scrap heavy moved down by Rs 2 per kg to Rs 405 from Rs 407.

Copper cable scrap, copper wire bar and brass sheet cutting softened by a Re per kg each to Rs 412, Rs 440 and Rs 309, respectively.

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First Published: Sep 04 2015 | 4:57 PM IST

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