Select base metals recover on renewed demand, Nickel surges

Select base metals recovered at the non-ferrous metal market here today owing to stockists buying amid renewed demand from industrial users on the back of higher global cues.
Elsewhere, nickel also surged owing to rising demand from alloy industries.
Globally, industrial metal copper jumped in early trade, as short sellers rushed to cover their positions amid speculation about further stimulus from China, and ahead of a key monetary policy meeting in the US.
Tin spurted by Rs 10 per kg to Rs 1,160 from Tuesday's closing level of Rs 1,150.
Copper cable scrap, copper utensils scrap and copper wire bar moved up by Rs 3 per kg each to Rs 413, Rs 371, and Rs 433 as compared to Rs 410, Rs 368 and Rs 430 yesterday.

Copper scrap heavy, brass sheet cuttings and zinc edged up by Rs 2 per kg each to Rs 405, Rs 312 and Rs 170 respectively and copper sheet cuttings inched up to Rs 391.
However, brass utensils scrap softened by a Re per kg to Rs 290.