Tin, nickel and brass prices rise on industrial demand

MUMBAI: Tin, nickel and brass prices rose at the non-ferrous metal market here on Monday due to higher industrial demand coupled with good stockists offtake, despite bearish trend in London Metal Exchange (LME).

Meanwhile, copper and zinc edged lower on reduced buying from consumer industries.

On global front, industrial metals declined at the LME on concerns over disappointing US payrolls data as well as lower economic cues from China.

Tin hardened by Rs 10 per kilo to Rs 1,345 from last Saturday's closing level of Rs 1,335 and nickel rose by Rs 5 per kilo to Rs 1,195 as against Rs 1,190.

Brass sheets cutting looked up by Rs 2 per kilo to Rs 316 and brass utensils scrap inched up by a rupee per kilo to Rs 304.

However, copper sheets cutting and zinc both moved down by Rs 2 per kilo each to Rs 441 and Rs 124.

Copper cable scrap, copper scrap heavy, copper armiture and copper wire bar all softened by a rupee per kilo each to Rs 466, Rs 457, Rs 448 and Rs 494 last weekend.