Base metals surge on persistent demand, global cues

Prices of most of the base metals, including copper, brass, zinc, tin and nickel shot-up at the non-ferrous metal market here today following stockists' heavy buying amid persistent demand from industrial users on the back of bullish global cues.

Nickel climbed by Rs 80 per kg to Rs 1,060 from Wednesday's closing level of Rs 980 and tin spurted by Rs 20 per kg to Rs 1,495 as against Rs 1,475.

Copper scrap heavy gained by Rs 15 per kg to Rs 468 as compared with Rs 453 previously.

Copper cable scrap and copper billets firmed up by Rs 14 per kg each to Rs 473 and Rs 455 from Rs 459 and Rs 444 yesterday.

Copper armature rose by Rs 11 per kg to Rs 458 as against Rs 447 and copper sheet cuttings increased by Rs 10 per kg to Rs 468 as compared to Rs 453 previously.

Copper utensils were trading up by Rs 8 per kg to Rs 430 as against Rs 422 and brass sheet cuttings moved up by Rs 5 per kg to Rs 360 from Rs 355.

Brass utensils scrap and zinc edged up by Rs 3 per kg each to Rs 343 and Rs 242 from Rs 340 and Rs 239, respectively.