Select base metals recover on global cues

Written by: Pti
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Mumbai, Feb 25 (PTI) Select base metals recoveredmodestly at the non-ferrous metal market here today onemergence of fresh buying by stockists induced by a rebound onthe London Metal Exchange (LME).

Meanwhile, tin and nickel prices dropped further owingto consistent selling by stockists and traders coupled withreduced industrial demand.

Copper scrap heavy went up by Rs 8 per kg to Rs 462from its overnight closing level of Rs 454 and copper armaturerose by Rs 7 per kg to Rs 450 as against Rs 443 previously.

Copper cable scrap and copper wire bar both firmed up byRs 6 per kg each to Rs 470 and Rs 498 respectively, ascompared to Rs 464 and Rs 492 yesterday.

Copper utensils scrap, copper sheets cutting, brassutensils scrap and brass sheets cutting, all moved up by Rs 5per kge each to Rs 421, Rs 443, Rs 307 and Rs 318,respectively.

Zinc also inched up by a rupee per kg each to Rs 134.

However, tin fell sharply by Rs 22 per kg to Rs 1,660from yesterday''s closing level of Rs 1,682 and nickel declinedby Rs 15 per kg to Rs 1,370 against Rs 1,385 previously.

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