Select base metals gain on rising demand

Select base metals gained at the non-ferrous metal market here today on sustained stockists buying amid rising demand from industrial users.
Meanwhile, copper utensils scrap and nickle slipped owing to lower offtake from consumers as well as alloy industries.
In global markets, Industrial metal copper was flat in early trade at the LME, though tracking to record its biggest monthly gain since September 2012, on a mix of short-covering and some fresh long positions as traders bet on a price recovery ahead of China's seasonally strong second quarter.
Tin rose to Rs 5 per kg to Rs 1,390 from thursday's closing level of Rs 1,385 and copper scrap heavy moved up to Rs 4 per kg to RS 433 from overnight closing level of Rs 429.

Copper cable scrap and copper wire bar edged up by Rs 2 per kg to Rs 438 and Rs 458 as against Rs 436 and Rs 456 respectively.
Copper sheets cuttings inched up by a Re per kg to Rs 423 from Rs 422.
However, nickel dropped by Rs 5 per kg to Rs 1,035 from thursday closing level of Rs 1,040.
Copper utensils scrap edged down by Rs 2 per kg to Rs 405 as against Rs 407 and copper armiture softened by a Re to Rs 426.