Copper strengthen on sustained demand, global cues

Copper prices strengthened further at the non-ferrous metal market here today on heavy stockists buying as well as industrial demand on the back of bullish London Metal Exchange (LME) cues.
Elsewhere, brass and nickel also spurted owing to sustained demand from consumer and alloy industries.
The Industrial metal, copper climbed on technical buying in early trade, though wobbly factory data in China and Europe fuelled deflation concerns that are further clouding the outlook for demand.
Nickel jumped by Rs 10 per kg to Rs 1,085 from Monday's closing level of Rs 1,075 and brass utensils scrap vaulted by Rs 8 per kg to Rs 315 from Rs 307.

Copper cable scrap and copper wire bar rose by Rs 5 per kg each to Rs 423 and Rs 443 as against Rs 418 and Rs 438 previously.
Copper scrap heavy and copper armiture moved up by Rs 3 per kg each to Rs 417 and Rs 411 from Rs 414 and Rs 408 yesterday.
Brass sheet cutting and Aluminium Ingots edged up by Rs 2 per kg each to Rs 320 and Rs 165 from Rs 318 and Rs 163, while aluminium utensils scrap inched up by a Re per kg to Rs 133 respectively.
However, zinc and lead softened by a Re per kg each to Rs 172 and Rs 134.