Base metals strengthen on industrial demand

Posted By: Pti
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Mumbai, Feb 7 (PTI) Most of the base metals picked up atthe non-ferrous metal market here today due to heavy stockingas well as industrial buying following bullish trend at theLondon Metal Exchange (LME).

Meanwhile, aluminium utensils scrap moved down on reducedofftake from consumer industries.

Tin prices hardened by Rs 20 per kilo to Rs 1,580 fromlast weekend''s closing level of Rs 1,560 and nickel surged byRs 15 per kilo to Rs 1,365 as against Rs 1,350 previously.

Brass sheets cutting firmed up by Rs 5 per kilo to Rs 328as compared to Rs 323.

Copper armiture, copper utensils scrap, copper wire barand copper sheets cutting all moved up by Rs 3 per kilo eachto Rs 457, Rs 427, Rs 508 and Rs 447 respectively.

Copper cable scrap and brass utensils scrap both edged upby Rs 2 per kilo each to Rs 479 and Rs 316.

Copper scrap heavy also inched up by a rupee per kilo toRs 468.

However, aluminium utensils scrap fell by Rs 2 per kiloto Rs 104 from 106 last weekend.

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