Base metals strengthen on global cues

NEW DELHI: Supported by a firming global trend, base metal prices rose by up to Rs 5 per kg in the local non-ferrous metal market today on increased industrial demand.

Trading sentiment bolstered after copper rose in London on speculation a weakening economy may prompt easing of monetary policy by China, the world's biggest user of the metal.

Meanwhile, copper for three-month delivery advanced 1.1 per cent to 8,131 dollar a metric tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and zinc ingot rose by Rs 2 each to Rs 392 and Rs 114-120 per kg, respectively.

Nickel (4x4) followed suit and traded higher by Rs 5 to Rs 1,066-1,068 per kg.

The following are metal rates per kg: Zinc ingot 114-120, nickel plate (4x4) 1,066-1,068, gun metal scrap 226, bell metal scrap 228, copper mixed scrap 392, chadri deshi 285.

Lead ingot 127, lead imported 125, aluminium ingots 121, sheet cutting 123, aluminium wire scrap 127 and aluminium utensils scrap 122.