Base metals surge further on industrial demand

Most of the base metals surged further at the non-ferrous metal market here today due to consistent stockists as well as industrial demand despite lower cues from the London Metal Exchange (LME).

Meanwhile, brass ustensils scrap edged down on lower demand from consumer industries.

Nickel prices hardened by Rs 28 per kg to Rs 1,250 from overnight closing level of Rs 1,222 and tin also spurted by Rs 10 per kg to Rs 1,430 as against Rs 1,420 yesterday.    

Copper cable scrap, copper utensils scrap, copper wire bar and copper sheet cutting all firmed up by Rs 4 per kg each to Rs 451, Rs 403, Rs 479 and Rs 427 respectively.

Copper scrap heavy and copper armiture both moved up by Rs 3 per kg each to Rs 443 and Rs 433. Brass sheet cutting inched up by a rupee per kg to Rs 308.  

However, brass utensils scrap eased by Rs 2 per kg to Rs 298 from Rs 300 yesterday.