Base metals up on global cues

NEW DELHI: Tracking a firm global trend, base metal prices rose by Rs 2 per kg on the local non-ferrous metals market on Tuesday on increased buying by stockists.


Traders said prices turned better after copper gained the most in a week after falling to the lowest level in almost 18 months in global markets amid speculation that the slump will attract users in China, the biggest consumer.

Meanwhile, copper for delivery in three months rose 1.1 per cent, the most since April 9, to $ 7,271.25 a tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and nickel (4x4) rose by Rs 2 each to Rs 424 and Rs 1,049-1,052 per kg, respectively.

Zing ingot, lead ingot and lead imported were up by the same margin to Rs 121-125, Rs 142 and Rs 140 per kg, respectively.

The following are metal rates per kg: Zinc ingot 121-127, nickel plate (4x4) 1,049-1,052, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 424, chadri deshi 285.

Lead ingot 142, lead imported 140, aluminium ingots 140, sheet cutting 141, aluminium wire scrap 144 and aluminium utensils scrap 140.