Select base metals recover on renewed demand

Select base metals, including Nickel, tin, copper recovered at the non-ferrous metal market here today on stockists buying amid renewed demand from industrial users. Meanwhile, brass and zinc owing to lower offtake from consumer industries. Globally, industrial metal copper clung to the 300 mark but was still near six-year lows in early LME trade after China trade data underlined struggling growth in the world's top metals user.

Nickel and tin spurted by Rs 10 per kg each to Rs 795 and Rs 1,145 from last Saturday's closing level of Rs 785 and Rs 1,135. Copper cable scrap, copper scrap heavy and copper wire bar all rose by Rs 4 per kg each to Rs 399, Rs 392 and Rs 427 as against Rs 395, Rs 388 and Rs 423 previously. Copper utensils scrap and Lead inched up by a Re per kg each to Rs 361 and Rs 121.

However, brass utensils scrap fell by Rs 4 to Rs 282 from Rs 286 and brass sheet cutting declined by Rs 3 per kg to Rs 290 from Rs 293 last weekend. Zinc also softened by Re per kg to Rs 148.