Tin zooms on heavy demand

Posted By: Pti
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Mumbai, Feb 8 (PTI) Tin prices jumped at the non-ferrousmetal market here today on emergence of hectic buying bystockists as well as strong demand from consuming industries.

"Besides buoyant demand from industrial users along withlow inventory mainly caused the rise in tin prices, traderssaid.

Tin shot up by Rs 110 per kilo to Rs 1,690 from Monday''sclosing level of Rs 1,580.

Aluminium also moved up on renewed industrial support andgained by Rs 2 per kilo to Rs 106 as against Rs 104previously.

However, copper and brass dropped owing to stockistsoffering coupled with reduced demand on the back of bearishtrend at the London Metal Exchange (LME).

Brass utensils scrap and brass sheets cutting bothdeclined by Rs 6 per kilo each to Rs 310 and Rs 322 fromovernight closing level of Rs 316 and Rs 328.

Copper cable scrap and copper armiture slipped by Rs 3per kilo each to Rs 476 and Rs 454 respectively, as against Rs479 and Rs 457 yesterday.

Copper scrap heavy and copper wire bar eased by Rs 2 perkiloe each to Rs 466 and Rs 506 respectively.

Copper utensils scrap and copper sheets cutting alsosoftened by a rupee per kilo each to Rs 426 and Rs 446.

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