Select base metals spurt on stockists offtake, global cues

Nickel and tin prices rose at the non-ferrous metal market here today increased buying by stockists amid robust demand from alloy industries.
Elsewhere, brass and select copper varieties also moved up on better offtake from consuming industries.
While, copper utensils scrap eased owing to lack of industrial buying support.
Globally, most industrial metals continued to rally on the LME and hit multi-month highs buoyed by strong US economic recovery momentum underpinned by minutes of the US Federal Reserve's and better-than-expected China's factory sector output data.
Nickel spiked by Rs 10 per kg to Rs 1,255 from Thursday's closing level of Rs 1,245 and tin firmed up by Rs 5 per kilo to Rs 1,615 as against Rs 1,610.

Brass sheets cutting, copper cable scrap, copper wire bar and copper sheets cutting all inched up by Re 1 per kg each to Rs 359, Rs 495, Rs 523 and 474, respectively.
Copper utensils scrap, however fell by Rs 2 per kg to Rs 458 from Rs 460 previously.