Copper gains on industrial demand

Mumbai: Select copper and brass prices gained at the non-ferrous metal market here today on stockist buying amidst higher industrial offtake despite lower London Metal Exchange (LME) cues.

Meanwhile, nickel and select aluminium declined due to reduced demand from industrial users.

The Industrial metal eased at the LME from a one-month high hit in the previous session but news that top global miner BHP Billiton Ltd would delay project expansion due to a slowdown in China helped to cushion prices.

Copper scrap heavy rose by Rs 3 per kg to Rs 475 from Tuesday`s closing level of Rs 472.

Copper cable scrap and copper wire bar both moved down by Rs 2 per kg each to Rs 482 and Rs 510 from Rs 480 and Rs 510.

Copper armiture, copper utensils and brass sheet cutting all inched up by a rupee per kg each to Rs 465, Rs 440 and Rs 326 respectively. Nickel declined by Rs 5 per kg to Rs 1,060 from Rs 1,065.

Aluminium utensils eased by Rs 2 per kg to Rs 113 from Rs 115.