Base metals recover on fresh buying support, global cues

Select metals recovered up to Rs 5 per kg on the local non-ferrous metal market today on fresh buying by stockists on pick up in industrial demand, amid a firming global trend.

Trading sentiments turned better as copper and other base metals rose in global markets.

Meanwhile, copper for three-month-delivery traded at $9,570 and nickel climbed 1.1% to $26,220 and tin by 0.6% to $29,550 a tonne on the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were up by Rs 2 each to Rs 504, Rs 527, and Rs 488 per kg respectively. Nickel (4x4) and Tin ingot, followed suit and traded higher by Rs 5 each to Rs 1,046-1,048 and Rs 833 per kg.

In line with a general firming trend, zinc ingot, lead ingot and lead imported were also enquired higher by Re 1 each to Rs 126.50, Rs 133 and Rs 135 per kg, respectively.

Following were today's quotations per kg:

Tin ingot 833, zinc ingot 126.50, nickel plate (4x4) 1,046-1,048, gun metal scrap 226 bell metal scrap 228, copper wire scrap 504, copper wire bar 527, copper mixed scrap 488, Utensil scrap 224, Chadripital 175.

Lead ingot 133, lead imported 135, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102.