Base metals surge on good demand, global cues

Most of the base metals including copper, nickel and brass spurted at the non-ferrous metal market here today on heavy stockists buying amid good demand from industrial users driven by bullish global cues.
Globally, the industrial metal copper rose in early LME trade to a fresh six-week high, as traders bet China would beef up measures to strengthen its economy after August trade data showed flagging growth.
Copper utensils scrap and copper sheet cutting both spurted by Rs 7 per kg each to Rs 387 and Rs 403 from Tuesday's closing level of Rs 380 and Rs 396.
Copper cable scrap, copper armiture and copper wire bar climbed by Rs 6 per kg each to Rs 419, Rs 408 and Rs 447 from previous level of Rs 413, Rs 402 and Rs 441.

Copper scrap heavy and Nickel rose by Rs 5 per kg each to Rs 413 and Rs 830 from overnight close of Rs 408 and Rs 825.
Brass utensils scrap moved up by Rs 3 per kg to Rs 303 as against Rs 300 yesterday.
Zinc edged up by Rs 2 per kg to Rs 160 from Rs 158, while brass sheet cutting and lead inched up by a Re per kg to Rs 311 and Rs 122 respectively.