Copper, nickel remain up on higher global trend

Copper and nickel prices rose by Rs 2 per kg in the non-ferrous metal market today on sustained buying by stockists following pick up in demand.

Sentiment remained better after copper gained in global markets, after climbing to a five-month high yesterday as the dollar weakened on prospects for a further easing of US monetary policy by the Federal Reserve to bolster the economy.

Meanwhile, copper for the three-month gained 0.2 per cent to $7,899 and nickel by 0.2 per cent to $22,800 a metric tonne on the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained in demand and added another Rs 2 each to Rs 408, Rs 427 and Rs 388 and nickel (4x4) followed suit and traded higher by the same margin to Rs 955-959 per kg, respectively.

 

Following were today's quotations in Rs per kg:

Tin ingot 800, zinc ingot 123.50, nickel plate (4x4) 955- 959, gun metal scrap 226 bell metal scrap 228, copper wire scrap 408, copper wire bar 427, copper mixed scrap 388.00, Utensil scrap 224, Chadripital 175

Lead ingot 126, lead imported 128, aluminium ingots 100, sheet cutting 103, aluminium wire scrap 100 and aluminium utensils scrap 100