Nickel, tin prices surge on heavy demand

Nickel and tin prices surged at the non-ferrous metal market here today on sustained stockist buying amidst heavy demand from alloy industries.
Elsewhere, select copper, aluminium and zinc also gained on good demand from consumer industries.
The industrial metals slipped at the London Metal Exchange (LME) after posting its biggest weekly gain in 11 months last week, but signs of stabilising growth in top metals consumer China continued to support prices.
Nickel and tin shot-up by Rs 10 per kg to Rs 1,020 and Rs 1,470 from last Saturday's closing level of Rs 1,010 and Rs 1,460.
Zinc moved up by Rs 4 per kg to Rs 155 from Rs 151.

Aluminium utensils scrap gained by Rs 3 per kg to Rs 123 from Rs 120.
Copper cable scrap and copper wire bar inched up by a rupee per kg each to Rs 497 and Rs 525, respectively.
However, copper scrap heavy and lead softened by a rupee per kg each to Rs 489 and Rs 130.