Select base metals recover on fresh demand

Copper, brass and gunmetal scrap prices recovered smartly at the non-ferrous metal market here today on fresh stockists buying amidst fresh demand from industrial users.
Meanwhile, aluminium ingots and lead prices slipped on stockists selling amidst subdued demand from consumer industries.
The industrial metals eased in early trade at LME after a rout on Wall Street over Argentinian default soured risk appetite and ahead of a deluge of economic indicators out later in the session, including an assessment of activity in China's vast manufacturing sector.
Copper cables scrap, copper wire bar and gunmetal scrap all climbed by Rs 5 per kg each to Rs 500, Rs 528 and Rs 410 from Thursday's closing level of Rs 495, Rs 523 and Rs 405, respectively.

Copper scrap heavy and copper sheet cutting moved up by Rs 2 per kg each to Rs 490 and Rs 470 from Rs 488 and Rs 468.
Copper armature, brass utensil scrap and brass sheet cutting inched-up by a Re per kg each to Rs 474, Rs 339 and Rs 357.
However, aluminium ingots declined by Rs 3 per kg to Rs 169 as against Rs 172 yesterday.
Lead softened by Re 1 per kg to Rs 143.