BS:Nickel, tin recover on renewed demand, global cues
Nickel, tin and aluminium ingots recovered smartly at the non-ferrous metal market here today on stockists buying amid renewed demand from alloy industries on the back of higher London Metal Exchange (LME) cues.
The industrial metals rose for a second session in early trade at the LME, with slightly better-than-expected Chinese growth data underpinning the market. Nickel gained 0.7 per cent, and was trading near its highest on support from escalating tensions between the West and Russia over the crisis in Ukraine.
Nickel shot up by Rs 15 per kg to Rs 1,155 from Wednesday's closing level of Rs 1,140.
Tin climbed by Rs 10 per kg to Rs 1,590 from Rs 1,580.
Aluminium ingots moved up by Rs 4 per kg to Rs 154 from Rs 150.
Copper sheet cutting, zinc and lead inched-up by a Re per kg to Rs 475, Rs 173 and Rs 144, respectively.
However, brass sheet cutting softened by a Re per kg to Rs 361.
