Tin, nickel prices recover on fresh demand

Tin and nickel prices recovered in an otherwise sluggish non-ferrous metal market here today on renewed stockist buying amidst fresh demand from alloy industries.
Elsewhere, select copper, brass and aluminium prices declined on reduced offtake from industrial users.
The industrial metals was trading steady at the LME, with the appeal of commodities tarnished by slowing demand growth from top consumer China and by expectations the US will rein in stimulus this year.
Nickel shot-up by Rs 5 per kg to Rs 972 from Monday's closing level of Rs 967.
Copper sheet cutting and tin climbed by Rs 3 per kg each to Rs 468 and Rs 1,380 from Rs 465 and Rs 1,377.

Zinc inched-up by a rupee per kg to Rs 150.

However, copper scrap heavy and brass sheet cutting dropped by Rs 3 per kg each to Rs 479 and Rs 335 from Rs 482 and Rs 338.
Copper cable scrap, copper wire bar, brass utensils scrap and aluminium ingots all moved down by Rs 2 per kg to Rs 486, Rs 514, Rs 326 and Rs 142 from Rs 488, Rs 516, Rs 328 and Rs 144, respectively.
Copper armiture and aluminium utensils scrap both softened by a rupee per kg each to Rs 469 and Rs 119.