Business Standard

Select base metals rise on global cues, spot demand

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Press Trust of India New Delhi
Prices of select base metals rose by up to Rs 5 per kg at the non-ferrous metals market today, tracking a firm trend overseas amid pick-up in demand from consuming industries.
Traders said, sentiment bolstered after Shanghai base metals prices rose today, with lead hitting a 19-month high, as they continued to recover from a sell-off triggered by trade war tensions between the US and China.
Globally, lead prices in Shanghai climbed for the fourth straight day by as much as 3 per cent to 20,615 yuan (USD 3,116.45) a tonne, the highest since November 29, 2016, as China raises fears of tight supply due to environmental crackdown.
Besides, uptick in demand from consuming industries at domestic spot market fuelled the uptrend.
In the national capital, lead ingot and lead imported were trading up by Rs 3 each to Rs 140 and Rs 147, while zinc ingot edged up by Rs 2 to Rs 137-143 per kg, respectively.
Nickel plate (4x4) also went up by Rs 5 to Rs 880-883 per kg.
Following are today's metal rates (in Rs per kg):

Zinc ingot Rs 137-143, nickel plate (4x4) Rs 880-883, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 427, chadri deshi Rs 295.
Lead ingot Rs 140, lead imported Rs 147, aluminium ingots Rs 168, aluminium sheet cutting Rs 164, aluminium wire scrap Rs 164 and aluminium utensils scrap Rs 162.

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First Published: Jun 28 2018 | 3:50 PM IST

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