Copper, nickel rises on global cues

Copper and nickel prices rose up to Rs 5 per kg on the local non-ferrous metal market today on pick up in industrial demand, amid firming trend at the London Metal Exchange (LME).

Trading sentiment bolstered as copper gained in global markets on expectations of global supply deficit.

Meanwhile, copper for three-month gained  0.4 per cent to $9,670 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 476, Rs 499 and Rs 460, while nickel (4x4)gained Rs 5 to Rs 1,020-1,022 per kg, respectively.

Following were today's quotations in Rs per kg:

Tin ingot 820, zinc ingot 131.50, nickel plate (4x4) 1,020-1,022, gun metal scrap 226 bell metal scrap 228, copper wire scrap 476, copper wire bar 499, copper mixed scrap 460, 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