Base metals strengthen on global cues, spot demand
Base metal prices rose by up to Rs 4 per kg at the non-ferrous metal market today tracking a firm trend overseas.
Further, pick-up in demand from consuming industries at domestic spot market fuelled the uptrend.
Traders said positive global cues, where the base metals extended a rally spurred by Chinese demand and tightening supplies, mainly buoyed sentiment here.
Globally, copper for delivery in three months climbed 0.2 per cent at the London Metal Exchange in yesterday's trade.
In the national capital, copper mixed scrap and nickel moved up by Rs 4 and Rs 2 to Rs 355 and Rs 772-782 per kg respectively.
Zinc ingot, lead ingot and lead imported were also enquired higher by Rs 2 each to Rs 106-112, Rs 104 and Rs 110 per kg, respectively.
Following are today's metal rates (in Rs per kg): Zinc ingot Rs 106-112, Nickel plate (4x4) Rs 772-782, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 355, chadri deshi Rs 295.
Lead ingot Rs 104, lead imported Rs 110, 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.)
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