Base metals surge on industrial demand

Most of the base metals surged at the non-ferrous metal market here today on hectic stockist buying amidst sustained demand from industrial users.
Aluminium prices declined on stockist selling owing to poor demand from consumer industries.
However, at the global level Aluminium prices hit a five- month peak in early trade at the LME on technical buying while copper slipped after Chinese stimulus measures disappointed investors.
Nickel shot up by Rs 12 per kg to Rs 1,080 from Thursday's closing level of Rs 1,068 and Tin spurted by Rs 10 per kg to Rs 1,575 from Rs 1,565.
Copper sheet cutting rose by Rs 3 per kg to Rs 477 as against Rs 474 yesterday.

Copper scrap heavy, copper armature and brass utensils scrap moved up by Rs 2 per kg to Rs 484, Rs 481 and Rs 352 from Rs 482, Rs 479 and Rs 350 previously.
Copper cable scrap, copper wire bar, brass sheet cutting and zinc all inched up by a Re per kg to Rs 488, Rs 516, Rs 362 and Rs 170, respectively.
However, aluminium ingots dropped by Rs 5 per kg to Rs 146 from overnight close of Rs 151 and aluminium utensils scrap softened by Re 1 per kg to Rs 125.