Copper, select base metals gain on sustained industrial demand

MUMBAI: Led by copper, select base metals gained at the non-ferrous metal market here today on stockists buying amidst sustained industrial demand despite a fall in London Metal Exchange (LME).

Meanwhile, tin, zinc and select brass eased due to lower demand from consumer industries.

The industrial metals fell at the LME on global growth concerns and chain of dismal corporate earning reports.

Nickel prices spurted by Rs 5 per kg to Rs 1,045 from last Saturday's closing level of Rs 1,040 and Aluminium utensils scrap climbed by Rs 4 per kg to Rs 114 from Rs 110.

Copper armature and copper sheet cutting rose by Rs 3 per kg each to Rs 465 and Rs 459 as against Rs 462 and Rs 456 previously.

Copper cable scrap, copper utensils scrap and copper wire bar moved up by Rs 484, Rs 439 and Rs 512 from Rs 482, Rs 439 and Rs 512 last weekend.

Copper scrap heavy also inched up by Re 1 per kg to Rs 475.

However, tin dropped by Rs 5 per kg to Rs 1,300 from previous close of Rs 1,305.

Zinc and brass utensils scrap softened by Re 1 per kg each to Rs 133 and Rs 316, respectively.