Copper, nickel extend gains on global cues

Copper and nickel prices extended gains for the third straight day by rising Rs 2 per kg at the local non-ferrous metals market today largely in tune with a firming trend overseas.
Traders sentiment remained strong as copper gained in global markets amid speculation that demand will stabilise in China and the US, the world's largest metal consumers.
Further, depreciating rupee which dipped to Rs 60.50 to a dollar, making imports costlier also influenced metal prices, they said.
Meanwhile, copper for delivery in three months climbed 0.3 per cent to 6,711.50 dollar a metric tone on the London Metal Exchange.

In the national capital, copper mixed scrap and nickel (4x4) added another Rs 2 each to Rs 436 and Rs 1,089-1,090 per kg, respectively.
Following are today's metal rates per kg:
Zinc ingot 109-115, nickel plate (4x4) 1,089-1,090 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 436, chadri deshi 285.
Lead ingot 117, lead imported 115, aluminium ingots 152, aluminium sheet cutting 153, aluminium wire scrap 155 and aluminium utensils scrap 152.