Base metals prices strengthen on global cues

Jan 14 2013, 16:21 IST
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SummaryBase metal prices firmed up to Rs 3 per kg on the local non-ferrous metal market.

Base metal prices firmed up to Rs 3 per kg on the local non-ferrous metal market today largely on the back of a firming trend overseas.

Sentiment turned better after copper advanced in global markets on signs of economic growth in China, the world's largest buyer of industrial metals, raising metals demand outlook.

Meanwhile, copper jumped 0.7 per cent to USD 8,102 a tonne on the London Metal Exchange.

In the national capital, copper and zinc ingot rose by Rs 2 each to Rs 119-123 and Rs 422, while nickel (4x4) followed suit and traded higher by Rs 3 to Rs 1,065-1,068

per kg respectively.

Lead ingot and lead imported were up by Rs 2 each to Rs 143 and Rs 141 per kg respectively.

The following are metal rates per kg: Zinc ingot 119-123, nickel plate (4x4) 1,065-1,068, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 422,

chadri deshi 285.

Lead ingot 143, lead imported 141, aluminium ingots 132, sheet cutting 133, aluminium wire scrap 137 and aluminium utensils scrap 132.

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