Base metal prices rise on global cues

Base metal prices rose by Rs 2 per kg at the local non-ferrous market today on increased buying by stockists, tracking a firm global trend.
Traders said sentiment bolstered after aluminium rose in global markets on speculation that China will further stimulate the economy and as inventories fell to near a four-year low.
Meanwhile, aluminium for delivery in three months gained USD 11 to USD 1,946 a metric ton on the London Metal Exchange.
In the national capital, aluminium ingots, aluminium sheet cutting, aluminium wire scrap and aluminium utensils scrap were up by Rs 2 each to Rs 164, Rs 165, Rs 167 and Rs 164 per kg respectively.

Copper mixed scrap and nickel (4x4) also moved up by Rs 2 each to Rs 421 and Rs 1,089-1,095 per kg respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot 112-118, Nickel plate (4x4) 1,089-1,095, Gun metal scrap 227, Bell metal scrap 229, Copper mixed scrap 421, Chadri deshi 285.
Lead ingot 100, Lead imported 101, Aluminium ingots 164, Aluminium sheet cutting 165, Aluminium wire scrap 167 and Aluminium utensils scrap 164.