Base metals surge on sustained industrial demand

Most of the base metals surged at the non-ferrous metal market here today on good buying by stockists amid sustained demand from industrial users.
Meanwhile, lead slipped on lower offtake from consuming industries.
On the global front, copper was ruling steady at the LME in early trade, as China-based traders trickled in after Lunar New Year, with focus on physical markets for early signs of appetite in the world's top user of the metal ahead of the second quarter, when demand is usually strongest.
Tin climbed by Rs 5 per kg to Rs 1,385 as against Wednesday's closing level of Rs 1,380 and copper utensils scrap rose by Rs 4 per kg to Rs 407 as against to Rs 403 previously.

Copper cable scrap, copper armiture and copper wire bar moved up by Rs 3 per kg each to Rs 436, Rs 427 and Rs 456 from overnight closing level of Rs 433, Rs 424 and Rs 453.
Copper scrap heavy, copper sheet cuttings and brass sheets cutting edged up by Rs 2 per kg each to Rs 429, Rs 422 and Rs 326 as against to Rs 427, Rs 420 and Rs 324 previous.
Brass utensils scrap and aluminium ingots inched up by a Re per kg to Rs 317 and Rs 161.
However, lead declined by Rs 3 per kg to Rs 133 and zinc inched down by Re per kg to Rs 171.