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Tin strengthens on sustained demand

Press Trust of India  |  Mumbai 

Tin strengthened at the non-ferrous metal market here today following sustained stockists buying amid persistent demand from alloy industries.

Elsewhere, zinc and nickel also firmed up owing to good demand from alloy industries.

While, copper declined owing to lower offtake from industrial users.

Tin prices spurted at Rs 50 per kg to Rs 1,700 from Monday's close at Rs 1,650.

Nickel gained by Rs 10 per kg to Rs 900 as against Rs 890 yesterday and zinc rose by Rs 5 per kg to Rs 250 from Rs 245.

However, copper sheet cuttings slipped by Rs 8 per kg to Rs 392 as compared Rs 400.

Copper cable scrap and copper wire bar declined by Rs 7 per kg each to Rs 415 and Rs 443 as against Rs 422 and Rs 450 yesterday.

Copper armature and copper utensils also moved down by Rs 5 per kg each to Rs 396 and Rs 370 from yesterday's close at Rs 401 and Rs 375, respectively.

Copper scrap heavy edged down by Rs 4 per kg to Rs 407 from Rs 411 yesterday.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 16:48 IST