Select base metals moves up on global cues

Select base metals gained at the non-ferrous metal market here today on good stockist demand amidst firming trend in London Metal Exchange (LME). Meanwhile, nickel, tin, lead and copper utensils declined on lower industrial offtake.

The industrial metals edged up at the LME on weaker dollar in a thin trade ahead of long weekend holidays in US and Britain.

Copper sheet cutting rose by Rs 5 per kilo to Rs 445 from yesterday's closing level of Rs 440 and aluminium utensils scrap went up by Rs 3 per kilo to Rs 108 from Rs 105 previously.

Brass utensils scrap edged up by Rs 2 per kilo to Rs 310 as against Rs 308 yesterday.

Copper cable scrap, copper scrap heavy, copper armiture and copper wire bar all inched up by a rupee per kilo each to Rs 466, Rs 456, Rs 448 and Rs 494 respectively.  

However, tin and nickel both fell by Rs 5 per kilo each to Rs 1,475 and Rs 1,240 from Rs 1,480 and Rs 1,245 yesterday. Copper utensils scrap edged down by Rs 2 per kilo to Rs 422 and lead softened by a rupee per kilo to Rs 124.