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Base metals remain up on industrial demand, global cues

Dec 10 2012, 15:14 IST
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SummarySelect base metals remained firm on the local non-ferrous metals market today with prices rising up to Rs 5 per kg.

Taking positive cues from the global markets and pick up in domestic demand, select base metals remained firm on the local non-ferrous metals market today with prices rising up to Rs 5 per kg.

Marketmen said reports of gains in copper and other base metals at the London Metal Exchange (LME) after data showed China's industrial production accelerated to the fastest pace in eight months, raising demand in the world's biggest user, mainly buoyed the trading sentiment.

Meanwhile, copper for the metal for delivery in three months climbed 0.5 per cent to USD 8,072 per tonne at the LME, while at Shanghai Futures Exchange, the metal for delivery in March rose 0.4 per cent to 57,670 yuan (USD 9,257) a tonne.

In the national capital, copper mixed scrap rose by Rs 2 to Rs 402 per kg, while Lead ingot and imported gained Re 1 each at Rs 138 and Rs 136 per kg, respectively.

Nickel plate (4x4) traded Rs 5 higher at Rs 1,041-1,044 per kg on the back of increased demand from alloy-makers amid firm global cues.

The following are metal rates per kg:

Zinc ingot 108-112, nickel plate (4x4) 1,041-1,044, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 402, chadri deshi 285.

Lead ingot 138, lead imported 136, aluminium ingots 128, sheet cutting 129, aluminium wire scrap 133 and aluminium utensils scrap 128.

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