Base metals strengthen on firm global trend

Copper and other base metal prices rose up to Rs 5 per kg on the local non-ferrous metal market today, largely in tandem with a firm trend at the London Metal Exchange (LME). 

Pick up in industrial demand also influenced metal prices.

Marketmen said besides firming trend in global markets, increased demand from consuming industries led to recovery in base metal prices.

Meanwhile, copper for three-month delivery added 1.3 per cent to $8,514.75 a tonne on the LME. 

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were up by Rs 2 each to Rs 444,Rs 468 and Rs 429, while nickel (4x4) gained Rs 5 to Rs 1,005-1,007 per kg.

In line with a general firming trend, zinc ingot, lead ingot and lead imported were enquired higher by Rs one each to Rs 132.50, Rs 136 and Rs 138 per kg, respectively.

Following were today's quotations in Rs per kg:

Tin ingot 815, zinc ingot 132.50, nickel plate (4x4) 1,005-1,007, gun metal scrap 226 bell metal scrap 228, copper wire scrap 444, copper wire bar 468, copper mixed scrap 429, Utensil scrap 224, Chadripital 175

Lead ingot 136, lead imported 138, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102