Select base metals strengthen on global cues, increased demand

Tracking a firming trend overseas and pick up in demand from domestic consuming industries, prices of select base metals rose Rs 5 per kg at the non-ferrous metal market today.
Marketmen said sentiments turned better after copper and other base metals strengthened at the London Metal Exchange (LME) after US jobs data fueled speculation that the Federal Reserve will not raise key interest rates any time soon, raising demand for commodities.
Globally, copper for three-month delivery surged as much as 1.8 per cent, to USD 5,193 per tonne on the London Metal Exchange (LME). Lead also traded one per cent higher.

Besides, pickup in demand from consuming industries influenced metal prices, they said.
In the national capital, copper mixed scrap and nickel plate (4x4) traded Rs 5 each, higher at Rs 355 and Rs 905-910 per kg, respectively.
Lead ingot and lead imported too were in better form and edged higher by Re one each to trade at Rs 99 and Rs 100 per kg, respectively.

Tracking other base metals, zinc ingot traded Rs 2 higher at Rs 106-112 per kg.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 106-112, Nickel plate (4x4) Rs 905-910, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 355, Chadri deshi Rs 285.

Lead ingot Rs 99, Lead imported Rs 100, Aluminium ingots Rs 152, Aluminium sheet cutting Rs 153, Aluminium wire scrap Rs 155 and Aluminium utensils scrap Rs 152.