Copper, nickel strengthen on firm global cues

Copper and nickel prices rose up to Rs 5 per kg in the local non-ferrous metal market here today on firming trend overseas.

Traders said besides firming trend at the London Metal Exchange, pick up in demand from consuming industries led to a rise in copper and nickel prices.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap enquired higher by Rs 2 each to Rs 462, Rs 486 and Rs 447 per kg.

Nickel (4x4) followed suit and traded up by Rs 5 to Rs 1,020-1,022 per kg.

Following were today's quotations in Rs per kg:

Tin ingot 825, zinc ingot 131.50, nickel plate (4x4) 1,020-1,022, gun metal scrap 226 bell metal scrap 228, copper wire scrap 462, copper wire bar 486, copper mixed scrap 447, Utensil scrap 224, Chadripital 175

Lead ingot 135, lead imported 137, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102