Base metals strengthen on global cues, pick up in demand

Buoyed by firming trend at the London Metal Exchange, copper and other base metals strengthened and traded up to Rs 10 per kg higher in the non-ferrous metal market today.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were up by Rs 3 each to Rs 414, Rs 433 and Rs 394 per kg respectively.

Nickel (4x4) shot up by Rs 10 to Rs 973-977 per kg on firming trend overseas and increased demand from alloy makers.

Zinc ingot, lead ingot and lead imported were also in good demand and gained Rs 2 each to Rs 123.50, Rs 125 and Rs 127 and Rs 129 per kg.

 

Meanwhile, three-month copper rose by 0.63 per cent to $8,150.25 per tonne on the London Metal Exchange.

Following were today's quotations in Rs per kg:

Tin ingot 810, zinc ingot 123.50, nickel plate (4x4) 973- 977, gun metal scrap 226 bell metal scrap 228, copper wire scrap 414, copper wire bar 433, copper mixed scrap 394.00, Utensil scrap 224, Chadripital 175

Lead ingot 125, lead imported 127, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102