Base metals rise on industrial demand, global cues

MUMBAI: Base metal prices rose at the non-ferrous metal market here today due to increased demand from industrial users as well as heavy stockists offtake coupled with rising trend at the London Metal Exchange ( LME).

Tin hardened further by Rs 10 per kilo to Rs 1,350 from overnight closing level of Rs 1,340 and brass sheets cutting strengthened by Rs 7 per kilo to Rs 298 as against Rs 291 previously.

Nickel firmed up by Rs 5 per kilo to Rs 1,205 as compared to Rs 1,200 yesterday.

Copper utensils scrap moved up by Rs 4 per kilo to Rs 385 and brass utensils scrap edged up by Rs 2 per kilo to Rs 285.

Copper cable scrap, copper scrap heavy, copper armiture, copper wire bar, zinc and lead all inched up by a rupee per kilo each to Rs 435, Rs 426, Rs 416, Rs 463, Rs 128 and Rs 112 respectively.