Base metals remain up on firm global cues

Tracking a firming global trend, base metal prices advanced by up to Rs 4 per kg at the non-ferrous metal market today.
Besides, increased demand from consuming industries at domestic spot market supported the upside.
Traders said sentiment remained better on the back of firm global trend where nickel led metals higher, as Goldman Sachs Group predicted a surge in prices over six months driven by probable supply cuts in the Philippines, the biggest ore producer.
Globally, nickel prices jumped 1.4 per cent to USD 10,190 per tonne at the London Metal Exchange (LME).
In the national capital, nickel plate (4x4) and copper mixed scrap advanced by Rs 4 and Rs 2 to Rs 850-855 and Rs 374 per kg, respectively.

Zinc ingot, lead ingots and lead imported also traded higher by Rs 2 each to Rs 98-104, Rs 84 and Rs 90 per kg, respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 98-104, Nickel plate (4x4) Rs 850-855, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 374, chadri deshi Rs 295.
Lead ingot Rs 84, lead imported Rs 90, aluminium ingots Rs 152, aluminium sheet cutting Rs 148, aluminium wire scrap Rs 148 and aluminium utensils scrap Rs 146.