Nickel, tin surge on sustained demand

Nickel and tin prices surged at the non-ferrous metal market here today on buying by stockists amid sustained demand from alloy industries.
While, select copper brass and zinc declined on lower demand from industrial users on the back of bearish global cues.
In overseas markets, the industrial metal copper was near its lowest since late April in early trade, ahead of Chinese trade data likely to show that external and domestic demand remained weak last month.
Nickel spurted by Rs 13 per kg to Rs 1,003 from last Saturday's closing level of Rs 990 and tin surged by Rs 5 per kg to Rs 1,215 from Rs 1,210.

However, brass sheet cutting and brass utensils scrap fell by Rs 4 per kg each to Rs 314 and Rs 306 from previous closing level of Rs 318 and Rs 310.
Copper cable scrap and copper wire bar moved down by Rs 2 per kg each to Rs 448 and Rs 468 as against Rs 450 and Rs 470 last weekend.
Copper scrap heavy, copper sheet cutting and zinc all softened by Re per kg to Rs 443, Rs 426 and Rs 183, respectively.