Base metals advances on rising demand

Base metals advanced at the non-ferrous metal market here today on rising demand from the industrial users despite bearish cues from London Metal Exchange (LME).

Meanwhile, lead eased on subdued buying from consumer industries. 

Nickel prices rose by Rs 5 per kg to Rs 1,180 from overnight closing level of Rs 1,175.

Copper cable scrap, copper utensils scrap, copper wire bar, copper sheet cuttings and brass utensils scrap all edged up by Rs 2 per kg to Rs 458, 409, Rs 486, Rs 434 and Rs 300 respectively.

Copper armiture, aluminium utensils scrap and zinc inched up by a rupee per kg each to Rs 439, Rs 107 and Rs 125. However, lead moved down by Rs 2 per kg to Rs 115 from Rs 117 yesterday.