Tin, nickel spike on industrial demand, global support
Tin and nickel both spurted by Rs 5 per kilo to Rs 1,590 and Rs 1,020 from Thursday's closing level of Rs 1,585 and Rs 1,015, respectively.
By PTI |
MUMBAI: Tin and nickel prices rebounded in a listless non-ferrous metal market here today due to pick-up in demand from alloy-makers coupled with higher stockists offtake.
Copper scrap heavy eased owing to lack of buying support from consuming industries.
Meanwhile, industrial metals were trading firm at LME following stronger-than-expected manaufacturing data from world's second largest economy China amid easing uncertainty over QE tapering.
Tin and nickel both spurted by Rs 5 per kilo to Rs 1,590 and Rs 1,020 from Thursday's closing level of Rs 1,585 and Rs 1,015, respectively.
Copper scrap heavy, however softened by Re 1 per kilo to Rs 491 as compared to Rs 492 yesterday.
Copper scrap heavy eased owing to lack of buying support from consuming industries.
Meanwhile, industrial metals were trading firm at LME following stronger-than-expected manaufacturing data from world's second largest economy China amid easing uncertainty over QE tapering.
Tin and nickel both spurted by Rs 5 per kilo to Rs 1,590 and Rs 1,020 from Thursday's closing level of Rs 1,585 and Rs 1,015, respectively.
Copper scrap heavy, however softened by Re 1 per kilo to Rs 491 as compared to Rs 492 yesterday.
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