Select base metals regain on good demand

Select base metals rose at the non-ferrous metal market here today due to renewed buying by stockists amid better industrial offtake. Meanwhile, brass sheet cutting declined on subdued demand from from the consumer industries.

In overseas trade, industrial metals mostly traded stable at the LME in thin trade on the back of a rising euro following reports that the Germany could make concession on efforts to put together a bailout for Greece.

Tin spurted by Rs 15 per kilo to Rs 1,480 from overnight closing level of Rs 1,465 and nickel strengthened by Rs 10 per kilo to Rs 1,240 as against Rs 1,230 previously. Aluminium utensils scrap moved up by Rs 3 per kilo to Rs 108 from Rs 105 yesterday.

Copper utensils scrap and copper sheet cutting both edged up by Rs 2 per kilo each to Rs 425 and Rs 442, respectively. Brass utensils scrap also inched up by a rupee per kilo to Rs 308. However, brass sheet cutting fell by Rs 3 per kilo to Rs 316 from Monday's closing level of Rs 319.