Aluminium strengthens on global cues

NEW DELHI: Prices of aluminium rose further by Re 1 per kg at the non-ferrous metal market today on increased buying by stockists amid a firming global trend.

Traders said buying activity in aluminium picked up after it shot up in global markets before jobless claims and pending home sales in the US, the second biggest consumer of metals, and as stockpiles fell to a six-year low.

Meanwhile, aluminium for delivery in three months rose 0.1 per cent to USD 1,740.50 a metric tonne on the London Metal Exchange.

In the national capital, Aluminium ingots, sheet cutting, wire scrap and utensils scrap were up by Re 1 each at Rs 157, Rs 158, Rs 160 and Rs 157 per kg, respectively on global cues.

Following are today's metal rates (in Rs per kg):

Zinc ingot Rs 114-120, Nickel plate (4x4) Rs 1,022-1,027, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 404, Chadri deshi Rs 285.

Lead ingot Rs 108, Lead imported Rs 109, Aluminium ingots Rs 157, Aluminium sheet cutting Rs 158, Aluminium wire scrap Rs 160 and Aluminium utensils scrap Rs 157.