Copper, nickel strengthen on global cues

Prices of copper and nickel strengthened by up to Rs 5 per kg in the local non-ferrous metal market today on sustained buying by stockists on the back of a firming trend at the London Metal Exchange (LME).

Sentiments remained better as copper in London gained on signs that demand is picking up in China, the world's largest user.

Meanwhile, copper for three-month delivery increased by one per cent to $9,112 and nickel advanced by the same margin to $23,050 per metric tonne on the LME.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap advanced by Rs 2 each to Rs 512, Rs 535 and Rs 495, respectively, while nickel (4x4) edged up by Rs 5 to Rs 1,068-1,070 per kg.

Following were today's quotations Rs per kg:

Tin ingot 850, zinc ingot 138.50, nickel plate (4x4) 1,068-1,070, gun metal scrap 226 bell metal scrap 228, copper wire scrap 512, copper wire bar 535, copper mixed scrap 495, Utensil scrap 224, Chadripital 175

Lead ingot 145, lead imported 148, aluminium ingots 109, sheet cutting 110, aluminium wire scrap 110 and aluminium utensils scrap 107