Base metals rise on positive global cues

Base metal prices rose by Rs 2 per kg at the local non-ferrous metals market today on increased buying by stockists, tracking a firm global trend.
Traders said sentiments bolstered after zinc reached the highest in almost three years and aluminum headed for a bull market overseas as dwindling stockpiles fueled speculation that usage of the metals will exceed supply.
Meanwhile, zinc for delivery in three months climbed 2.2 per cent to USD 2,345, the highest since August 4, 2011 and Aluminum reached USD 2,015 a tonne, the highest level since February 28, 2013 at the London Metal Exchange.
In the national capital, copper mixed scrap and zinc ingot rose Rs 2 each to Rs 434 and Rs 113-119 per kg respectively.

Aluminium ingot, shee cutting, wire scrap and utensils scrap also traded higher by Rs 2 each to Rs 157, Rs 158,Rs 160 and Rs 157 per kg respectively. Nickel (4x4), lead ingot and lead imported too traded in positive zone with a rise of Rs 2 each to Rs 1087-1093, Rs 113 and Rs 111 per kg respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot 113-119, Nickel plate (4x4) 1,087-1,093, Gun metal scrap 227, Bell metal scrap 229, Copper mixed scrap 434, Chadri deshi 285.
Lead ingot 113, Lead imported 111, Aluminium ingots 157, Aluminium sheet cutting 158, Aluminium wire scrap 160 and Aluminium utensils scrap 157.