Base metals rise on firm demand

Most of the base metals rose at the non-ferrous metal market here today on firm demand from stockist and industrial users on the back of higher London Metal Exchange (LME) cues.

Meanwhile, tin declined on lower demand from alloy industries.

The industrial metals were trading flat at the LME at the opening session as deadlock in US budget talks pressured sentiment.

Nickel spurted by Rs 10 per kg to Rs 1,100 from Tuesday's closing level of Rs 1,090.

Copper sheet cutting and aluminium utensils scrap climbed by Rs 4 per kg each to Rs 467 and Rs 118 from Rs 463 and Rs 114.

Copper scrap heavy, brass utensils scrap and brass sheet cutting all moved up by Rs 3 per kg to Rs 482, Rs 324 and 334 from Rs 479, Rs 321 and Rs 331 respectively.

Copper cables scrap, copper armiture, copper utensils scrap, and copper wirebar all went up by Rs 2 per kg to Rs 491, Rs 472, Rs 448, and Rs 519 as against Rs 489, Rs 470, Rs 446 and Rs 517 yesterday.0

However, tin declined by Rs 5 per kg to Rs 1,375 from Rs 1,380.

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