Tin recovers moderately on renewed demand

Tin prices recovered moderately in mostly sluggish non-ferrous metal market here today due to stockists buying amid renewed demand from industrial users.
While nickel weakened, select copper and brass also moved down following subdued offtake from consumer industries.
Overseas, the base metals were trading higher globally as a weaker dollar helped metals after Fed Chair Janet Yellen showed the Fed wanted to be hawkish but was prepared to be dovish, which weakened the dollar and equities.
Tin spurted by Rs 14 per kg to Rs 1,230 from Wednesday's closing level of Rs 1,217.
However, nickel dipped by Rs 20 per kg to Rs 670 as against Rs 690 previously.

Copper scrap heavy declined Rs 3 per kg to 366 from Rs 369 yesterday.
Copper utensils scrap and copper sheet cutting moved down by Rs 2 per kg each to Rs 340 and Rs 358 from overnight close of Rs 342 and Rs 360.
Copper cable scrap, copper armiture, copper wire bar and brass sheet cutting all softened by a Re per kg to Rs 372, Rs 362, Rs 400 and Rs 278 respectively.