Select base metals gain on good demand

MUMBAI: Most of the base metals gained at the non-ferrous metal market here today on stockist buying amidst good demand from industries users.

The industrial metals were trading steady at the LME, but resurfacing worries over a US federal debt default and a dimming outlook for copper demand ahead of a week-long holiday in top consumer China dragged on prices.

Copper scrap heavy, copper utensils scrap, brass utensils scrap, tin and nickel climbed by Rs 2 per kg each to Rs 501, Rs 464, Rs 346, Rs 1,557 and Rs 1,017 from Rs 499, Rs 462, Rs 344, Rs 1,555 and Rs 1,015.

Copper armature, brass sheet cutting and zinc inched up by Re 1 per kg each to Rs 489, Rs 355 and Rs 160. However, copper sheet cutting and lead softened by Re 1 per kg each to Rs 483 and Rs 129, respectively.