Base metals strengthen on global cues

Base metals prices strengthened by Rs 2 per kg at the local non-ferrous base metals market today on increased buying by stockists in line with a firming global trend.
Traders said sentiment bolstered after copper climbed in global markets as declining inventories and signs that US manufacturing is gaining momentum outweighed concern that demand will slow down in China, the biggest user.
Meanwhile, copper for delivery in three months rose 0.3 per cent to USD 7,344.75 a tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and zinc ingot added by Rs 2 each to Rs 427 and Rs 111-117, nickel (4x4) traded higher by the same margin to Rs 1072-1073 per kg, respectively.

Lead ingot and lead imported also enquired higher by the same margin to Rs 136 and Rs 134 per kg, respectively.
The following are today's metal rates per kg:
Zinc ingot 111-117, nickel plate (4x4) 1,072-1,073 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 427, chadri deshi 285.
Lead ingot 136, lead imported 134, aluminium ingots 150, Aluminium sheet cutting 151, aluminium wire scrap 153 and aluminium utensils scrap 150.