Tin rebounds on heavy demand

Tin prices rebounded smartly in an otherwise sluggish non-ferrous metal market here today on sustained stockists buying amidst heavy demand from alloy industries.
Meanwhile, select copper and brass prices declined due to lower demand from industrial users.
The industrial metals edged down at LME, as traders book profits after optimistic comments by the Federal Reserve chair on growth helped prices rally one percent in the previous session, while robust China trade data also underpinned sentiment.
Tin shot up by Rs 7 per kg to Rs 1,535 from Tuesday's closing level of Rs 1,528.
Copper sheet cutting and brass utensils scrap inched up by Re one per kg to Rs 491 and Rs 356.

However, copper cable scrap, copper scrap heavy and copper wire bar dropped by Rs 3 per kg each to Rs 512, Rs 506 and Rs 540 from Rs 515, Rs 509 and Rs 543, respectively.
Brass sheet cutting and aluminium utensils scrap softened by a Re per kg each to Rs 364 and Rs 126.