Select base metals surge on industrial demand

Copper, brass and zinc surged at the non-ferrous metal market here today due to stockists buying amid sustained demand from industrial users.
While, tin and nickel dropped on selling following subdued demand from alloy industries.
On the global front, the industrial metal copper was steady in early trade at the LME, after a raft of weather- related mine closures in top producer Chile underpinned prices, but clouds over China's growth prospects curbed upside momentum.
Copper utensils scrap spurted by Rs 6 per kg to Rs 415 from Wednesday's closing level of Rs 409.
Copper cable scrap and copper wire bar climbed by Rs 5 per kg each to Rs 448 and Rs 468 from its overnight level of Rs 443 and Rs 463.

Copper scrap heavy, copper armiture and copper sheet cutting rose by Rs 4 per kg each to Rs 442, Rs 435 and Rs 430 as against Rs 438, Rs 431 and Rs 426 previously.

Brass utensils scrap and zinc moved up by Rs 3 per kg each to Rs 323 and Rs 170 from Rs 320 and Rs 167.
Brass sheet cutting edged up by Rs 2 per kg to Rs 330 from Rs 328 and lead inched up by a Re per kg to Rs 134.
However, tin slumped by Rs 10 per kg to Rs 1,350 from yesterday's closing level of Rs 1,360 and nickel dropped by Rs 7 per kg to Rs 1,030 from Rs 1,023 respectively.