Zinc, copper move up on global cues, spot demand

Prices of zinc and copper rose by Rs 2 per kg at the non-ferrous metals market today largely on firm global trend amid pick up in demand from consuming industries.
Traders said sentiment was boosted on the back of a firm trend overseas, where industrial metals advanced on speculation that China will maintain its growth rate, while data from the US indicated interest rates may remain lower for longer.
Meanwhile, zinc, which entered a bull market this week, rose 2.3 per cent to USD 1,795 a metric tonne on the London Metal Exchange.
Traders said upsurge in demand from consuming industries at domestic spot market also supported the upside.

In the national capital, zinc ingot and copper mixed scrap rose by Rs 2 each to Rs 98-104 and Rs 355 per kg respectively.
Lead ingot and imported also went higher by a similar margin to Rs 87 and Rs 93 per kg respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 98-104, Nickel plate (4x4) Rs 829-834, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 355, Chadri deshi Rs 295.
Lead ingot Rs 87, lead imported Rs 93, aluminium ingots Rs 146, aluminium sheet cutting Rs 142, aluminium wire scrap Rs 142 and aluminium utensils scrap Rs 140.