Base metals strengthen on firm global trend

Most of the base metals rose at the non-ferrous metal market here today on emergence of buying from stockists amid increased offtake by industrial users, triggered by a firm trend on the London Metal Exchange (LME).

Meanwhile, brass prices declined owing to reduced demand from consumer industries.

Nickel hardened by Rs 25 per kilo to Rs 1,160 from overnight closing level of Rs 1,135 and tin by Rs 15 per kilo to Rs 1,275, as against Rs 1,260 previously.

Copper scrap heavy gained by Rs 5 per kilo to Rs 397 from Rs 392 yesterday.

Copper cable scrap, copper armiture and copper wire bar, all moved up by Rs 3 per kilo each to Rs 403, Rs 384 and Rs 431, respectively. Copper sheets cutting and lead both edged up by Rs 2 per kilo each to Rs 379 and Rs 108.  

Zinc also inched up by a rupee per kilo to Rs 125. However, brass utensils scrap fell by Rs 4 per kilo to Rs 266 and brass sheets cutting eased by Rs 2 per kilo to Rs 275.