Base metals rise on global cues

Base metal prices rose by up to Rs 5 per kg in the local non-ferrous metal market today on emergence of buying by stockists on the back of a firming trend at the London Metal Exchange.

Sentiments turned better after copper recovered in global markets, as buying interest reemerged after recent losses. Meanwhile, copper for three-month delivery gained 1.7% to $8,950 a metric tonne on the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap attracted fresh support from stockists and traded higher by Rs 2 each to Rs 505, Rs 528 and Rs 488, respectively.

 

Nickel 4x4 and tin ingot gained Rs 5 to Rs 1,065-1,067 and Rs 850 per kg, respectively. Lead ingot and lead imported and zinc ingot were also enquired higher by Rs 2 each to Rs 141, Rs 143 and Rs 137.50 per kg, respectively.

Following were today's quotations per kg:

Tin ingot 850, zinc ingot 137.50, nickel plate (4x4) 1,065-1,067, gun metal scrap 226 bell metal scrap 228, copper wire scrap 505, copper wire bar 528, copper mixed scrap 488, Utensil scrap 224, Chadripital 175

Lead ingot 141, lead imported 143, aluminium ingots 109, sheet cutting 110, aluminium wire scrap 110 and aluminium utensils scrap 107