Base metals extend firmness on overseas cues, spot demand

Taking positive cues from global market and uptick in industrial demand at domestic spot market, prices of select base metals rose Rs 8 per kg at the non-ferrous metal market.
Traders said firming trend in base metals at the London Metal Exchange (LME) as speculation that the Federal Reserve will keep US interest rates near zero for longer boosted the appeal of riskier assets such as commodities, influenced sentiments here.
Furthermore, rising demand from consuming industries influenced metal prices, they said.
In the national capital, copper mixed scrap continued its upward march and gathered Rs 8 to trade at Rs 368 per kg.

Lead ingot and lead imported also gained Rs 3 each at Rs 104 and Rs 105 per kg, respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 106-112, Nickel plate (4x4) Rs 905-910, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 368, Chadri deshi Rs 285.
Lead ingot Rs 104, Lead imported Rs 105, Aluminium ingots Rs 152, Aluminium sheet cutting Rs 148, Aluminium wire scrap Rs 148 and Aluminium utensils scrap Rs 146.