Copper, brass prices move up on global cues

MUMBAI: Select copper and brass prices moved up marginally at the non-ferrous metal market here today on stockist buying amidst modest demand from industrial users on the back of higher London Metal Exchange cues.

Meanwhile, tin dropped on subdued offtake from alloy industries.

The industrial metals edged higher at the LME as trading remained cautious while investors awaited news on the Fed's stimulus programme from a two-day meeting starting later in the day.

Copper cable scrap, copper scrap heavy, copper wire bar, brass utensils scrap and brass sheet cutting inched-up by a rupee per kg to Rs 488, Rs 481, Rs 516, Rs 325 and Rs 336, respectively.

However, tin declined by Rs 5 per kg to Rs 1,345 from Rs 1,350.

Copper sheet cutting and aluminium ingots also softened by a rupee per kg each to Rs 462 and 140.