Nickel, tin gain on heavy demand, global cues

Tin, nickel and aluminium ingots prices gained at the non-ferrous metal market here today on sustained stockist buying amidst heavy demand from alloy industries on the back of higher London Metal Exchange (LME) cues.
Meanwhile, copper and brass prices dropped on reduced demand from industrial users.
Globally, nickel was trading near nine-month highs at the LME and is on track for its biggest weekly gain since mid-January with supply tightened by Indonesia's ban on ore exports, while copper steadied on concerns over demand from top consumer China.
Tin and nickel climbed by Rs 5 per kg each to Rs 1,590 and Rs 1,020 from Thursday's closing level of Rs 1,585 and Rs 1,015 respectively.

Aluminium ingots moved-up by Rs 3 per kg to Rs 151 from Rs 148 and lead inched-up by a Re per kg to Rs 142.
However, copper scrap heavy dipped by Rs 6 per kg to Rs 496 as against Rs 502 yesterday.

Copper cable scrap and copper wire declined by Rs 5 per kg each to Rs 503 and Rs 531 from Rs 508 and Rs 536.
Copper utensils scrap fell by Rs 4 per kg to Rs 471 from Rs 475.
Copper armiture, brass utensils scrap and brass sheet cutting moved-down by Rs 3 per kg each to Rs 490, Rs 353 and Rs 363 from Rs 493, Rs 356 and Rs 366.

Copper sheet cutting and zinc softened by a Re per kg each to Rs 484 and Rs 177.