Base metals gain further on global cues

Select base metals, led by nickel and copper rose up to Rs 20 per kg in the local non-ferrous metal market today on sustained buying by stockists in tandem with a firming trend at the London Metal Exchange (LME).

Sentiment turned firm after copper rose to its highest level in almost five months in London, as weak dollar made metals cheaper for buyers holding other currencies.

Meanwhile, copper for the three-month contract on the LME gained 0.8 per cent to $7,765 a metric tonne, the highest price since April 27.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap gained Rs 5 each to Rs 400, Rs 419 and Rs 380, respectively, while nickel (4x4) traded higher by Rs 20 at Rs 940-944 per kg.

Following were today's quotations in Rs per kg:   

Tin ingot 800, zinc ingot 125.50, nickel plate (4x4) 940- 944, gun metal scrap 226 bell metal scrap 228, copper wire scrap 400, copper wire bar 419, copper mixed scrap 380.00, Utensil scrap 224, Chadripital 175

Lead ingot 128, lead imported 130, aluminium ingots 100, sheet cutting 103, aluminium wire scrap 100 and aluminium utensils scrap 100