Select base metals up on global cues, spot demand

Select base metal prices rose by upto Rs 5 per kg at the non-ferrous metal market today, tracking a firm trend overseas.

Traders said sentiment bolstered on the back of a firm tend in base metal in global markets as a weaker dollar provided some respite after the metal hit a three-month low in the previous session following another big increase in inventories.

Globally, copper for three-month delivery was up 0.3 per cent to USD 6,772 per tonne, after closing down 1.4 per cent yesterday and touching USD 6,730, its lowest level since December 14 on the London Metal Exchange.

Besides pick up in demand at the domestic spot market fuelled the uptrend.

In the national capital, copper mixed scrap rose by Rs 5 to Rs 408 per kg.

Lead ingot, lead imported and zinc ingot also enquired higher by Rs 2 each to Rs 123, Rs 130 and Rs 126-132 per kg respectively.

Following are today's metal rates (in Rs per kg): Zinc ingot Rs 126-132, Nickel plate (4x4) Rs 790-795, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 408, chadri deshi Rs 295.

Lead ingot Rs 123, lead imported Rs 130, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)