Base metals up on global cues

Select base metals prices rose up to Rs 5 per kg in the local non-ferrous metal market today, on increased industrial demand amid firming trend at London Metal Exchange.

Trading sentiment bolstered after the entire base metals pack strengthened in global market, after the Federal Reserve raised its forecast for US economic growth.

Meanwhile, copper for three-month delivery climbed 0.6 per cent to $9,905 a metric tonne while zinc and lead added 0.9 per cent and 1.2 per cent, respectively, on the London Metal Exchange. 

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were recovered by Rs 2 each to Rs 523, Rs 546 and Rs 507 per kg, respectively.

Nickel (4x4) followed suit and gained Rs 5 to Rs 1,062-1,064 per kg.

Zinc ingot, lead ingot and lead imported were also enquired higher by Rs 2 each to Rs 134.50, Rs 141 and Rs 143 per kg, respectively. 

Following were today's quotations in Rs per kg: 

Tin ingot 845, zinc ingot 134.50, nickel plate (4x4) 1,062-1,064, gun metal scrap 226 bell metal scrap 228, copper wire scrap 523, copper wire bar 546, copper mixed scrap 507, Utensil scrap 224, Chadripital 175

Lead ingot 141, lead imported 143, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102