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Base metals gain on global cues

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Press Trust of India Mumbai

Copper, tin and brass prices firmed up at the non-ferrous metal market here today on renewed stockist buying as well as industrial offtake amidst rising trend in London Metal Exchange (LME).  

The industrial metals rose at the LME sidelining Japan earthquake and fresh European debt crises.

Meanwhile, nickel fell on subdued demand from industrial users. Tin prices spurted by Rs 5 per kilo to Rs 1,590 from overnight closing level of Rs 1,585.

Copper cable scrap, copper scrap heavy, copper armiture, copper utensils scrap, copper wire bar and brass utensils scrap all edged up by Rs 2 per kilo each to Rs 470, Rs 460, Rs 450, Rs 427, Rs 498 and Rs 312 respectively.  

 

Brass sheet cutting inched up by a rupee per kilo to Rs 320. However, nickel prices declined by Rs 5 per kilo to Rs 1,340 as against Rs 1,345 previously.

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First Published: Mar 23 2011 | 5:12 PM IST

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