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Select base metals prices gain on higher offtake

Press Trust of India  |  Mumbai 

Select base metals prices gained at the non-ferrous metal market here today on good stockist buying amidst higher offtake from industrial users on the back of higher London Exchange Metal (LME) cues.

Meanwhile, nickel dropped owing to lower demand from alloy industries.

The industrial metals were trading slightly higher at the LME underpinned by short-covering, as patchy growth indicators from top consumer China overshadowed an emerging recovery in the US labour market.

Lead climbed by Rs 3 per kg to Rs 138 from Saturday's closing level of Rs 135.

Copper cable scrap, copper wire bar, copper sheet cutting, brass sheet cutting and aluminium utensils moved up by Rs 2 per kg each to Rs 494, Rs 452, Rs 522, Rs 472, Rs 339 and Rs 116 from Rs 492, Rs 451, Rs 470, Rs 337 and Rs 114.

Copper utensils scrap and brass utensil scrap inched up a rupee per kg Rs 452 and Rs 326.

However, nickel fell by Rs 5 per kg to Rs 1,055 from Rs 1,060.

Copper scrap heavy and zinc softened by a rupee per kg to Rs 484 and Rs 145.

First Published: Mon, March 11 2013. 17:00 IST