Most of the base metals surged at the non-ferrous metal market here today on sustained stockists buying amid good offtake from industrial users on the back of bullish LME advisors.
On the global front, base metals climbed, while zinc surged four per cent in early LME trade after top miner Glencore said it would slash its annual output by a third, fanning sentiment that was already brightened by minutes showing the Federal Reserve was in no hurry to raise rates.
Nickel prices zoomed by Rs 20 per kg to Rs 845 from Thursday's closing level of Rs 825, tin spurted by Rs 12 per kg to Rs 1,200 from Rs 1,188 and zinc also climbed Rs 8 per kg to Rs 157 as compared to Rs 149 yesterday.
Copper cable scrap and copper wire bar rose Rs 5 per kg each to Rs 413 and Rs 441 as against to Rs 408 and Rs 436 and copper scrap heavy edged up Rs 4 per kg to Rs 407 from Rs 403 yesterday.
Copper armature and lead went up Rs 3 per kg each to Rs 399 and Rs 125 from overnight closing level of Rs 396 and Rs 122.
Copper utensils and copper sheet cuttings moved up Rs 2 per kg each to Rs 380 and Rs 395, respectively.
