Select base metals recover on renewed demand, global cues

The prices of copper, brass and nickel recovered at the non-ferrous metal market here today on renewed stockists buying as well as industrial demand amid higher global cues.
While, gunmetal scrap declined due to subdued offtake from industrial users.
The industrial metals inched up at the LME in early trade from one-month lows touched the session before as more than a week of intensive checks failed to dig up new cases of possible metals financing fraud in China.
Nickel shot up by Rs 15 per kg to Rs 1,210 from Wednesday's closing level of Rs 1,225.
Copper utensils scrap advanced by Rs 6 per kg to Rs 448 from Rs 442.

Brass sheet cutting rebounded by Rs 5 per kg to Rs 350 from Rs 345.

Copper cable scrap, copper wire bar and copper sheet cutting climbed by Rs 3 per kg each to Rs 486, Rs 514 and Rs 460 as against Rs 483, Rs 511 and Rs 457, respectively.
Copper scrap heavy, copper armiture and brass utensils scrap moved up by Rs 2 per kg each to Rs 476, Rs 463 and Rs 328 from Rs 474, Rs 461 and Rs 326.
However, gunmetal scrap fell by Rs 6 per kg to Rs 405 as compared to Rs 411 yesterday.