Base metals rise on global cues

NEW DELHI: Base metal prices rose up to Rs 5 per kg on the local non-ferrous base metals market on emergence of stockists buying in line with a firm global trend.

Traders said sentiment bolstered after nickel climbed to the highest level in two weeks in global markets, after Indonesia started a ban on mineral ore exports.

Meanwhile, nickel for delivery in three months advanced 2.4 per cent to USD 14,190 a metric tonne, the highest since December 30 on the London Metal Exchange.

In the national capital, copper mixed scrap and nickel (4x4) rose by by Rs 3 and Rs 5 to Rs 435 and Rs 1,082-1,083 per kg, respectively. Lead ingot and lead imported were also traded higher by Rs 2 each to Rs 138 and Rs 136 per kg, respectively.

The following are today's metal rates per kg: Zinc ingot 113-119, nickel plate (4x4) 1,082-1,083 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 435, chadri deshi 285.

Lead ingot 138,lead imported 136, aluminium ingots 150, Aluminium sheet cutting 151, aluminium wire scrap 153 and aluminium utensils scrap 150.