Tin strengthens on persistent demand

Tin prices strengthened further at the non-ferrous metal market here today on persistent stockists buying amidst heavy demand from alloy industries.
While, nickel dropped on stockist selling on the back of lower offtake from industrial users.
The industrial metals climbed at LME, underpinned by a weaker dollar and returning Chinese demand, shrugging off signs of a soft patch in the world's top economy after a bitter winter chilled retail sales in the United States.
Tin climbed by Rs 8 per kg to Rs 1,543 from Thursday's closing level of Rs 1,535.
Brass sheet cutting gained by Rs 3 per kg to Rs 367 from Rs 364.

Copper sheet cutting and aluminium utensils scrap moved up by Rs 2 per kg each to Rs 493 and Rs 128 from Rs 491 and Rs 126.
Copper cable scrap, copper scrap heavy, copper wire bar and brass utensils scrap inched-up by a Re per kg each to Rs 513, Rs 507, Rs 541 and Rs 357, respectively.
However, nickel declined by Rs 5 per kg to Rs 1,005 as against Rs 1,010 yesterday.