Base metals up on global cues, spot demand

Base metals prices rose by Rs 2 per kg at the non-ferrous metal market today, tracking a firming trend overseas amid pick up in demand from consuming industries at domestic spot market.
Traders said a firm trend where copper climbed to an eight-week high amid anticipation that central banks will move further to shore up economies following the UK referendum, boosted the outlook for demand.
They said pick-up in demand from consuming industries also supported the upside.
In the national capital, copper mixed scrap and nickel plate (4x4) were up by Rs 2 each to Rs 370 and Rs 852-857 per kg, respectively.

Zinc ingot, lead ingots and lead imported also quoted higher by Rs 2 each to Rs 92-98, Rs 80 and Rs 86 per kg, respectively.
Aluminium ingots, sheet cutting, wire scrap and utensils scrap too ended higher by a similar margin to Rs 152, Rs 148, Rs 148 and Rs 146 per kg, respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 92-98, Nickel plate (4x4) Rs 852-857, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 370, chadri deshi Rs 295.
Lead ingot Rs 80, lead imported Rs 86, aluminium ingots Rs 152, aluminium sheet cutting Rs 148, aluminium wire scrap Rs 148 and aluminium utensils scrap Rs 146.