Base metal prices up on higher global cues

Base metal prices rose by up to Rs 5 per kg in the local non-ferrous metals market today.

Written by Agencies | New Delhi | Published:September 14, 2012 3:44 pm

Base metal prices rose by up to Rs 5 per kg in the local non-ferrous metals market today on stockists buying in tandem with a firming global trend.

Sentiment turned better as copper led a rally in industrial metals in the overseas markets after the Federal Reserve’s plan to help bolster the US economy.

Meanwhile,copper jumped 3.6 per cent to USD 8,369 a tonne on the London Metal Exchange.

In the national capital,copper mixed scrap and zinc ingot rose by Rs 2 each to Rs 395 and Rs 109-113 per kg,respectively.

Nickel (4×4) followed suit and gained Rs 5 to Rs 1,035-1,038 per kg.

Lead ingot and lead imported were also enquired higher by Rs 2 each to Rs 135 and Rs 133 per kg,respectively.

The following are metal rates per kg:

Zinc ingot 109-113, nickel plate (4×4) 1,035-1,038,gun metal scrap 226,bell metal scrap 228,copper mixed scrap 395,chadri deshi 285.

Lead ingot 135,lead imported 133,aluminium ingots 125,sheet cutting 127,aluminium wire scrap 132 and aluminium utensils scrap 126.

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