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Copper strengthens on increased demand, global cues

Press Trust of India  |  New Delhi 

Copper prices strengthened by Rs 2 per kg at the non-ferrous metal market today on the back of rising demand from consuming industries amid a firm trend overseas.

Traders said apart from increased demand from consuming industries at domestic spot market, a firm trend overseas despite weak industrial output data from China, influenced metal prices.

Meanwhile, data showed that China's factory output rose 6.5 per cent in April from a year earlier, while fixed-asset grew 8.9 per cent in the first four months of the year, both worse than expectations.

Globally, copper for delivery in three months was up 0.3 per cent at USD 5,578 per tonne on the Metal Exchange.

In the national capital, copper mixed scrap moved up by Rs 2 to Rs 345 per kg.

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

Zinc ingot Rs 106-112, Nickel plate (4x4) Rs 782-792, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 345, chadri deshi Rs 295.

Lead ingot Rs 92, lead imported Rs 98, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.

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

First Published: Mon, May 15 2017. 14:22 IST