Base metals recover on renewed industrial demand

Most of the base metals recovered at the non-ferrous metal market here today on buying from stockists amid renewed demand from industrial users.
Meanwhile, tin dropped further following subdued offtake from alloy industries.
On global front, copper and aluminium lost ground in early morning trade at the LME as it came under pressure on concerns over Chinese demand, with investors cautiously watching the country's next move after it allowed the yuan to decline.
Nickel spurted by Rs 10 to Rs 855 from Wednesday's closing level of Rs 845.
Copper sheet cutting and brass sheet cutting climbed by Rs 5 per kg each to Rs 385 and Rs 305 from overnight close of Rs 380 and Rs 300.

Copper scrap heavy, copper armiture and Brass utensils scrap rose by Rs 4 per kg each to Rs 397, Rs 389 and Rs 298 from Rs 393, Rs 385 and 294 previously.

Copper armiture, copper utensils scrap, copper wire bar all moved up by Rs 3 per kg each to Rs 370 and Rs 432 from Rs 367 and Rs 429, respectively.
Zinc inched up by a Re per kg to Rs 160.
However, tin dropped by Rs 10 per kg to Rs 855 from Rs 845 previously.