Base metals rise on good demand, global cues

Most of the base metals prices rose at the non-ferrous metal market here today on stockists buying amidst good demand from industrial users.

Globally, the industrial metals were trading higher at the LME in early trade, with investors shrugging off weak growth in the US and focusing on a shortfall in metal supply.

Nickel climbed by Rs 5 per kg to Rs 1,230 from Wednesday's closing level of Rs 1,225.

Copper armature, brass utensil scrap, lead and tin all moved up by Rs 480, Rs 340, Rs 142 and Rs 1,600 from Rs 478, Rs 338, Rs 140 and Rs 1,598, respectively.
 

Copper cable scrap, copper scrap heavy, copper wire bar, brass sheet cutting and zinc all inched-up by a Re per kg each to Rs 498, Rs 490, Rs 526, Rs 356 and Rs 182.

However, copper sheet cutting edged down by Re 1 per kg to Rs 472.