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Tin, nickel rebound on fresh demand

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Press Trust of India Mumbai
Tin and nickel spurted in an otherwise fairly active non-ferrous metal market here today on sustained stockist buying amid fresh demand from alloy industries.

Elsewhere, select copper, aluminium, brass and lead also edged up on good offtake from industrial users.

The industrial metals trading lower globally following renewed worries due to curbs on credit for China's property developers sagged traders confidence over metals demand.

Tin surged by Rs 10 per kg to Rs 1,570 from Tuesday's closing level of Rs 1,560 and nickel climbed by Rs 5 per kg to Rs 1,000 from Rs 995.

Copper sheet cutting moved up by Rs 2 per kg to Rs 495 as against Rs 493 previously, while copper scrap heavy, copper utensils scrap, brass utensils scrap, brass sheet cutting, aluminium utensils scrap and lead were inched up by Re 1 per kg each to Rs 507, Rs 479, Rs 359, Rs 369, Rs 128 and Rs 140, respectively.
 

However, aluminium ingots and zinc softened by Re 1 per kg to Rs 151 and Rs 174.

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First Published: Feb 26 2014 | 4:32 PM IST

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