Copper, nickel remain up on global cues
Copper and nickel prices rose up to Rs 5 per kg in the non-ferrous metals market today on sustained buying by stockists, influenced by a firming trend in base metals at the London Metal Exchange.
Trading sentiment remained better as copper prices at the London Metal Exchange rose to a 27-month high after a larger-than-forecast cut in US jobs spurred speculation that the Federal Reserve will take more steps to bolster the economy, weighing on the dollar.
Meanwhile, copper for delivery in three months rose 2.6 per cent, to $8,310 a metric tonne at the LME.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were up by Rs 2 each to Rs 423, Rs 442 and Rs 403, while nickel (4x4) added Rs 5 to Rs 983-987 per kg.
Following were today's quotations in Rs per kg:
Tin ingot 815, zinc ingot 123.50, nickel plate (4x4) 983 -987, gun metal scrap 226 bell metal scrap 228, copper wire scrap 423, copper wire bar 442, copper mixed scrap 403.00, Utensil scrap 224, Chadripital 175
Lead ingot 125, lead imported 127, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102