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Copper, Nickel prices strengthen on global cues

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SummaryCopper and nickel prices rose by Rs 5 per kg each on the local non-ferrous metal market today.

Copper and nickel prices rose by Rs 5 per kg each on the local non-ferrous metal market today.

Sentiment turned better as copper strengthened in global markets on Japan's stimulus plan to boost its economy and China's encouraging data which showed exceeded estimates of imports in December.

Meanwhile, copper for delivery in three months rose by 0.6 per cent, to USD 8,162 a tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and nickel (4x4) rose by Rs 5 each to Rs 420 and Rs 1,060-1,063 per kg respectively.

Zinc ingot, lead ingot and lead imported, held steady at Rs 117-121, Rs 141 and Rs 139 per kg respectively.

The following are metal rates per kg: Zinc ingot 117-121, nickel plate (4x4) 1,060-1,063, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 420,

chadri deshi 285.

Lead ingot 141, lead imported 139, aluminium ingots 132, sheet cutting 133, aluminium wire scrap 137 and aluminium utensils scrap 132.

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