Base metals rebound on industrial demand

Most of the base metals rebounded smartly at the non-ferrous metal market here today on good stockist buying amid sustained demand from industrial users.
Globally, the industrial metal copper edged down at the LME in early trade, but held above 4-1/2 year lows, touched the session before, as oil prices stabilised.
Nickel and tin shot-up by Rs 10 per kg each to Rs 1,120 and Rs 1,490 from overnight closing level of Rs 1,110 and Rs 1,480.
Brass honey, brass sheet cutting, copper sheet cutting and copper armiture rose by Rs 3 per kg each to Rs 320, Rs 333, Rs 443 and Rs 446 from Rs 317, Rs 330, Rs 440 and Rs 443.

Copper cable scrap, copper utensils scrap, copper wire bar and brass utensils scrap moved up by Rs 2 per kg each to Rs 469, Rs 423, Rs 497 and Rs 320 from Rs 467, Rs 421, Rs 495 and Rs 318.
However, gunmetal scrap and lead fell by Rs 2 per kg each to Rs 398 and Rs 136 as against Rs 400 and Rs 138.
Aluminium utensils scrap and zinc softened by a Re per kg each to Rs 136 and Rs 184, respectively.