Nickel and brass recover on renewed demand

Nickel and brass sheet cuttings recovered modestly at the non-ferrous metal market here today due to stockists' buying amid renewed demand from alloy industries.

Copper scrap heavy and copper armature also rebounded owing to fresh demand from consuming industries.

Elsewhere, copper cable scrap, copper utensils, copper billets and copper sheet cuttings gained further owing to rising demand from industrial users.

Copper utensils rose by Rs 7 per kg to Rs 435 from last Saturday's closing level of Rs 428 and nickel regained by Rs 5 per kg to Rs 1,020 as against Rs 1,015.

Copper scrap heavy and copoper sheet cuttings moved up by Rs 4 per kg each to Rs 466 and Rs 456 as compared Rs 462 and Rs 452, respectively.

Copper cable scrap, copper armiture and copper billets edged up by Rs 2 per kg each to Rs 471, Rs 457 and Rs 499 from Rs 469, Rs 455 and Rs 497 previously.

Brass sheet cuttings inched up per kg to Rs 359.