Base metals strengthen on global cues

Jan 02 2013, 16:28 IST
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SummaryBase metal prices rose up to Rs 3 per kg on the local non-ferrous metal market today largely on firming global trend.

Base metal prices rose up to Rs 3 per kg on the local non-ferrous metal market today largely on firming global trend.

Sentiments bolstered as firming global trend where copper and nickel led a rally in base metals as the US poised to avert fiscal cliff, boosting the outlook for demand for metals.

Meanwhile, copper for delivery in three months climbed 2 per cent to 8,090 dollar a metric tonnes on the London Metal Exchange.

In the national capital, copper mixed scrap and nickel (4x4) rose by Rs 2 and Rs 3 to Rs 421 and Rs 1,052-1,055 per kg respectively.

Zinc ingot, lead ingot and lead imported were also traded higher by Rs 2 each to Rs 117-121, Rs 145 and Rs 143 per kg respectively.

The following are metal rates per kg:

Zinc ingot 117-121, nickel plate (4x4) 1,052-1,055, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 421, chadri deshi 285.

Lead ingot 145, lead imported 143, aluminium ingots 130, sheet cutting 131, aluminium wire scrap 135 and aluminium utensils scrap 130.

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