Base metals rise on positive global cues, spot demand

Amid firm global cues and pick-up in demand at the domestic spot market, base metals prices traded higher by Rs 2 per kg at the non-ferrous metal market today.
Traders said sentiment bolstered after copper and other industrial metals rose in global markets with oil amid speculation that the world economy will cope with the impact of higher US interest rates.
Meanwhile, copper for delivery in three-months climbed 0.8 per cent to USD 4,690 a metric tonne on the London Metal Exchange.
Increased demand from consuming industries at domestic spot market further fuelled the uptrend, they said.
In the national capital, copper mixed scrap and nickel plate (4x4) strengthened by Rs 2 each to Rs 369 and Rs 842-847 per kg, respectively.

Zinc ingots, lead ingots and lead imported too enquired higher by a similar margin to Rs 96-102, Rs 72 and Rs 78 per kg, respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 96-102, Nickel plate (4x4) Rs 842-847, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 369, chadri deshi Rs 295.
Lead ingots Rs 72, lead imported Rs 78, aluminium ingots Rs 155, aluminium sheet cutting Rs 151, aluminium wire scrap Rs 151 and aluminium utensils scrap Rs 149.