Copper gains on good buying, global cues

Copper prices gained at the non-ferrous metal market here today on renewed stockist buying amidst good demand from industrial users on the back of higher London Metal Exchange (LME) cues.
Meanwhile, nickel, tin and lead declined due to lower demand from alloy industries.
The industrial metals edged up at the LME after a steep fall in the previous session, but expectations that US economic stimulus will be scaled back as early as September after a solid labour report kept a lid on gains.
Copper scrap heavy climbed by Rs 3 per kg to Rs 482 from last Saturday's closing level of Rs 479.

Copper sheet cutting, brass sheet cutting and aluminium ingots moved-up by Rs 2 per kg each to Rs 465, Rs 338 and Rs 144 from Rs 463, Rs 336 and Rs 142, respectively.
Copper cable scrap, copper armiture, copper utensils scrap, copper wire bar, brass utensils scrap and zinc all inched-up by a rupee per kg each to Rs 488, Rs 470, Rs 445, Rs 516, Rs 328 and Rs 149.

However, aluminium utensils scrap fell by Rs 6 per kg to Rs 120 as against Rs 126 previously.
Nickel and tin dropped by Rs 3 per kg each to Rs 967 and Rs 1,377 from Rs 1,380 and Rs 970.

Lead softened by a rupee per kg to Rs 134.