Select base metals firms up on industrial demand

MUMBAI: Led by tin and nickel, select base metals prices firmed up at the non-ferrous metal market here on Monday on rising demand from stockists as well as alloy industries on the back of higher London Metal Exchange ( LME).

The industrial metal climbed at the LME, after it logged its first monthly gain, buoyed by a brighter-than- expected manufacturing survey report from China.

Nickel shot up by Rs 10 per kg to Rs 990 from last Saturday's closing level of Rs 980.

Tin advanced by Rs 5 per kg to Rs 1,350 from Rs 1,345. Copper sheet cutting moved up by Rs 2 per kg to Rs 463 from Rs 461.

Copper cable scrap, copper scrap heavy, copper armiture, copper wire bar, brass utensils scrap, and brass sheet cutting all inched-up by a rupee per kg to Rs 486, Rs 477, Rs 466, Rs 514, Rs 326 and Rs 336 respectively.

However, aluminium utensils softened by a rupee per kg to Rs 117.