Base metals rise on good industrial demand

MUMBAI: Most of the base metals rose at the non-ferrous metal market here today on sustained stockists buying on the back of good demand from industrial users.

The industrial metals were trading flat on weak economic data indicating deeper recession amid top consumer China on long festive holidays.

Aluminium utensils scrap spurted by Rs 5 per kg to Rs 120 from Thursday's closing level of Rs 115.

Copper sheet cutting and brass utensils scrap surged by Rs 4 per kg to Rs 478 and Rs 330 from Rs 474 and Rs 326 previously.

Copper cable scrap, copper scrap heavy, copper wire bar and brass sheet cutting all gained by Rs 3 per kg each to Rs 501, Rs 492, Rs 529 and Rs 338 from overnight close of Rs 498, Rs 489, Rs 529 and Rs 338.

Copper armiture edged up by Rs 2 to Rs 481 from Rs 479 and copper utensils scrap and Aluminium ingots inched up by a rupee per kg each to Rs 455 and 148 from 454 and Rs 147, respectively.

However, nickel moved down by Rs 2 per kg to Rs 1,105 from Rs 1,107 yesterday.