Tin spurts on heavy demand

MUMBAI: Tin prices spurted in an otherwise sluggish non-ferrous metal market here today on hectic stockist buying amidst heavy demand from alloy industries.

Meanwhile, most of the metals eased due to reduced offtake from industrial users.

The industrial metals edged up at the LME on optimism over positive economic data from US and China.

Tin shot-up by Rs 10 per kg to Rs 1,425 from last Saturday's closing level of Rs 1,415.

Lead also inched up by a rupee per kg to Rs 129 from Rs 128.

However, Copper cable scrap, copper scrap heavy, copper armiture, copper wirebar and zinc all edged down by Rs 2 per kg each to Rs 493, Rs 483, Rs 472, Rs 512 and Rs 146 as against Rs 495, Rs 485, Rs 474, Rs 523 and Rs 148 respectively.

Brass utensils scrap, brass sheet cutting and aluminium ingots softened by a rupee per kg each to Rs 322, Rs 331 and Rs 147.