Nickel, tin rise on global cues

Nickel and tin prices rose at the non-ferrous metal market here today due to hectic stockists and industrial buying amid bullish trend at the London Metal Exchange (LME).

Meanwhile, copper and brass utensils scrap eased on poor industrial offtake.

Nickel prices spurted by Rs 20 per kg to Rs 1,290 from Tuesday's closing level of Rs 1,270 and tin firmed up by Rs 5 per kg to Rs 1,445 as against Rs 1,440 in the previous session.  

Brass sheet cutting moved up by Rs 2 per kg to Rs 312.

However, copper utensils scrap fell by Rs 3 per kg to Rs 403 and copper scrap heavy edged down by Rs 2 per kg to Rs 441 as compared to Rs 406 and Rs 443, respectively.

Copper cable scrap, copper armiture, copper wire bar, coppper sheet cutting and brass utensils scrap all softened by Re 1 per kg each to Rs 450, Rs 431, Rs 478, Rs 424 and Rs 302, respectively.