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Tin spurts on renewed demand

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Press Trust of India Mumbai

Nickel, lead and select brass also moved up owing to good offtake from industrial users.

Meanwhile, copper, select aluminium and brass utensils scrap fell on stockist selling as well as lack of demand from industrials users amidst bearish London Metal Exchange (LME) cues.

The industrial metals fell at the LME after disappointing earnings from leading US companies and a bigger-than-expected fall in Japan's exports dented appetite for riskier assets.

Tin rose by Rs 12 per kg to Rs 1,320 from Saturday's closing level of Rs 1,308.

Nickel climbed by Rs 2 per kg to Rs 1,060 from Rs 1,062.

Lead and brass utensils scrap inched up by a rupee per kg to Rs 124 and Rs 324.

 

However, copper cable scrap and copper wire bar declined by Rs 3 per kg each to Rs 485 and Rs 513 from Rs 488 and Rs 516 respectively.

Copper scrap heavy, copper sheet cutting and brass sheet cutting edged down by Rs 2 per kg each to Rs 477, Rs 463 and Rs 333 from Rs 479, Rs 465 and Rs 335.

Copper utensils scrap and aluminium utensils scrap both softened by a rupee per kg to Rs 443 and Rs 113.

  

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First Published: Oct 22 2012 | 5:35 PM IST

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