Copper rises on stockists buying,global cues

Copper prices recovered by Rs 2 per kg on the local non-ferrous metal market today on buying by stockists in tandem with a firming global trend. Buying activity picked up as copper climbed in global markets,after China’s imports surged to a record in December and the US economy probably accelerated in the last three months of 2011.

Meanwhile,copper for three-month rose 0.4 per cent to USD 8,254 per tonne on the London Metal Exchange.

In the national capital,copper mixed scrap recovered by Rs 2 to to Rs 392 per kg.

The following are metal rates (in Rs per kg):

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Zinc ingot 123-129,nickel plate (4×4) 1,060-1,062,gun metal scrap 226,bell metal scrap 228,copper mixed scrap 392,chadri deshi 285.

Lead ingot 130,lead imported 128,aluminium ingots 125,sheet cutting 127,aluminium wire scrap 131 and aluminium utensils scrap 126.