Base metals remain up on increased industrial demand

Select base metals strengthened by up to Rs 5 per kg in the local non-ferrous metal market.

Written by Agencies | New Delhi | Published:January 25, 2012 5:07 pm

Select base metals strengthened by up to Rs 5 per kg in the local non-ferrous metal market today on increased industrial demand amid a firming global trend.

Trading sentiment remained firm as copper advanced to the highest level in more than four months in global markets on dwindling stockpiles,which dropped to 342,250 tonnes,the lowest level since September 25,2009.

Meanwhile,copper for three-month delivery gained 1.2 per cent to USD 8,455.25 a tonne,the highest price since September 19 on the London Metal Exchange.

In the national capital,copper mixed scrap remained in demand and added another Rs 5 to Rs 400,while nickel (4×4) traded higher by Rs 2 to Rs 1,064-1,066 per kg,respectively.

Similarly,zinc ingot,lead ingot and lead imported traded higher by Rs 2 each to Rs 127-133,Rs 134 and Rs 132 per kg,respectively.

The following are metal rates in Rs per kg:

Zinc ingot 127-133,nickel plate (4×4) 1,064-1,066,gun metal scrap 226,bell metal scrap 228,copper mixed scrap 400,chadri deshi 285.

Lead ingot 134,lead imported 132,aluminium ingots 127,sheet cutting 129,aluminium wire scrap 133 and aluminium utensils scrap 128.

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