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Base metals rally on global cues

Mumbai: Most of the base metals rallied at the non-ferrous metal market here on Wednesday on sustained demand from stockists, amid a firm trend at the London Metal Exchange (LME).

Meanwhile, brass sheets cutting softened on reduced offtake from consumer industries.

Nickel strengthened by Rs 12 per kg to Rs 1,222 from yesterday`s closing level of Rs 1,210 and Tin spurted by Rs 10 per kg to Rs 1,420 as against RS 1,410 previously.

Copper armature rose by Rs 6 per kg to Rs 430 and Brass utensils scrap also gained Rs 4 per kg to Rs 300.

Copper cable scrap, copper scrap heavy, copper wire bar and copper sheet cutting all moved up Rs 3 per kg each to Rs 447, Rs 440, Rs 475 and Rs 423.

Aluminium ingots inched up by a rupee per kg to Rs 130.

However, brass sheet cutting looked down by a rupee per kg to Rs 307.

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