Select base metals up on global cues, spot demand

Tracking a firm global trend, select base metal prices rose up to Rs 3 per kg at the non-ferrous metals market today.
Traders said sentiment bolstered after industrial metals rallied across the board in global markets as finance chiefs from the Group of 20 sought to shore up investors' confidence in global economic prospects, with the head of China's central bank saying that policy makers still have room to act.
Meanwhile, nickel gained one per cent to USD 8,425 a metric tonne on the London Metal Exchange.
They said increased demand from consuming industries at domestic spot market fuelled the uptrend.

In the national capital, nickel plate (4x4) and copper mixed scrap rose by Rs 3 and Rs 2 to Rs 832-837 and Rs 357 per kg, respectively. Zinc ingot, lead ingot and imported also traded higher by Rs 2 each to Rs 100-106,Rs 89 and Rs 95 per kg, respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 100-106, Nickel plate (4x4) Rs 832-837, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 357, Chadri deshi Rs 295.
Lead ingot Rs 89, lead imported Rs 95, aluminium ingots Rs 146, aluminium sheet cutting Rs 142, aluminium wire scrap Rs 142 and aluminium utensils scrap Rs 140.