Base metals recover on global cues

NEW DELHI: Base metal prices recovered by Rs 2 per kg at the local non-ferrous base metals market today on stockists in line with a firm global trend.

Sentiments turned better after copper advanced in global markets as imports by China increased and global inventories declined.

Meanwhile, copper for delivery in three months gained 0.4 per cent to $7,244.75 a tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and nickel (4x4) recovered by by Rs 2 each to Rs 430 and Rs 1,075-1,076 per kg, respectively.

Lead ingot and lead imported were also enquired higher by the the same margin to Rs 136 and Rs 134 per kg, respectively.

The following are today's metal rates per kg:

Zinc ingot 113-119, nickel plate (4x4) 1,075-1,076 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 430, chadri deshi 285.

Lead ingot 136, lead imported 134, aluminium ingots 150, Aluminium sheet cutting 151, aluminium wire scrap 153 and aluminium utensils scrap 150.