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Base metals shine on positive global cues, spot demand

Press Trust of India  |  New Delhi 

Base prices rose by up to Rs 5 per kg at the non-market today, tracking a firm trend overseas amid pick-up in demand from consuming industries.

Traders said sentiment bolstered after copper ticked higher today as the dollar weakened against a basket of major currencies.

Meanwhile, three-month copper was up 0.2 per cent at USD 6,190 a tonne on the Exchange. Also the most-traded October copper contract on the rose 0.3 per cent to 49,550 yuan (USD 7,286) a tonne.

Besides, an uptick in demand from consuming industries at the domestic spot market supported the uptrend, they said.

In the national capital, copper mixed scrap and nickel plate (4x4) rose by Rs 3 and Rs 5 to Rs 435 and Rs 910-913 per kg, respectively.

Zinc ingot, lead ingot and lead imported also enquired higher by Rs 2 each to Rs 133-139, Rs 138 and Rs 145 per kg, respectively.

Following are today's rates (in Rs per kg):

Zinc ingot Rs 133-139, nickel plate (4x4) Rs 910-913, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 435, chadri deshi Rs 295.

Lead ingot Rs 138, lead imported Rs 145, aluminium ingots Rs 168, aluminium sheet cutting Rs 164, aluminium wire scrap Rs 164 and aluminium utensils scrap Rs 162.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 08 2018. 14:35 IST