Select base metals recovers on global cues
Mumbai, Jan 8 (PTI) Select copper, brass and aluminium prices recovered modestly at the non-ferrous metal market here today on renewed stockist buying as well as industrial demand on the back of higher London Metal Exchange (LME) cues.
Meanwhile, tin and lead declined on subdued offtake from alloy industries.
The industrial metals rose at the LME on expectations that ECB will refrain from rate cut this week and positive Chinese economic data release.
Brass sheet cutting and aluminium utensils scrap climbed by Rs 3 per kg each to Rs 334 and Rs 117 from Monday''s closing level of Rs 331 and Rs 114.
Copper cable scrap, copper scrap heavy, copper armature, copper wire bar, copper sheet cutting and brass utensils scrap inched-up by a rupee per kg each to Rs 494, Rs 484, Rs 473, Rs 522, Rs 468 and Rs 323 respectively.
However, Tin dropped by Rs 5 per kg to Rs 1,420 as against RS 1,425 yesterday.
Lead edged down by Rs 2 per kg to Rs 127 from Rs 129.
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Amid a series of corruption scams, and under extreme pressure from an opposition that won�t settle any less than seek the Prime Minister�s resignation, the UPA-II completed its 9th anniversary and released its last report card before the general elections 2014.
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