Base metals recover on pick up in demand

Base metals showed some strength and traded higher by Rs 2 per kg at the non-ferrous metals market today backed up by pick up in demand from consuming industries despite a weak trend overseas.
Traders attributed the rise in base metal prices to pick up in demand from consuming industries.
They said however, weakness in the base metals pack at the London Metal Exchange, sparked by a week of turmoil in China's currency and stock markets that shook commodities and hammered global mining stocks, capped the rise.
Meanwhile, copper for delivery in three months was down by 0.6 per cent to USD 4,495 a tonne at London Metal Exchange.

In the national capital, copper mixed scrap and nickel plate (4x4) were up by Rs 2 each to Rs 345 and Rs 830-835 per kg, respectively. Lead ingots, lead imported and zinc ingot also enquired higher by a similar margin to Rs 78, Rs 84 and Rs 96-102 per kg, respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 96-102, Nickel plate (4x4) Rs 830-835, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 345, Chadri deshi Rs 295.
Lead ingot Rs 78, lead imported Rs 84, aluminium ingots Rs 140, aluminium sheet cutting Rs 136, aluminium wire scrap Rs 136 and aluminium utensils scrap Rs 134.