Base metals rise on global cues

NEW DELHI: Select base metals strengthened and prices rose by Rs 2 per kg on the local non-ferrous metal market on Monday largely on firming global trend.

Traders said sentiment bolstered as copper gained in overseas markets after data showed a revival in US manufacturing, would boost demand for base metals.

Meanwhile, copper for delivery in three months gained 1.2 per cent to 7,176 dollar a metric tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and nickel (4x4)rose by Rs 2 each to Rs 420 and Rs 1,045-1,048 per kg, respectively.

Zinc ingot, lead ingot and lead imported were also traded higher by similar margin to Rs 109-115, Rs 141 and Rs 139 per kg respectively.

In line with a general firm trend, aluminium ingot, aluminium sheet cutting, aluminium wire scrap and aluminium utensil scrap were up by Rs 2 each to Rs 144, Rs 145, Rs 148 and Rs 144 per kg, respectively.

The following are on Monday's metal rates per kg: Zinc ingot 109-115, nickel plate (4x4) 1,045-1,048 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 420, chadri deshi 285.

Lead ingot 141, lead imported 139, aluminium ingots 144, sheet cutting 145, aluminium wire scrap 148 and aluminium utensils scrap 144.