Copper, other metals trade up on global cues

NEW DELHI: Taking positive cues from the global market, prices of copper and other base metals rose up to Rs 5 per kg at the non-ferrous metal market today.

Sentiments remained firm largely in line with a firming trend overseas amid signs of stabilising growth in China, the world's biggest buyer and a fall in stockpiles, mainly influenced base metals here, marketmen said.

Globally, copper for delivery in three months climbed 1 per cent to $7,380 a tonne on the London Metal Exchange. At Shanghai Futures Exchange, the metal for September delivery rose 0.6 per cent to 53,020 yuan ($ 8,643) a tonne.

In the national capital, copper mixed scrap and lead traded up by Rs 5 to Rs 423, lead inglot and lead imported gained Rs 2 each at Rs 148 and Rs 146 per kg, respectively.

Nickel plate traded Rs 5 higher at Rs 1052-1,055 per kg on industrial demand amid a firming trend overseas.

The following are today's metal rates per kg: Zinc ingot 113-119, nickel plate (4x4) 1,052-1,055 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 423, chadri deshi 285.

Lead ingot 148, lead imported 146, aluminium ingots 142, sheet cutting 143, aluminium wire scrap 146 and aluminium utensils scrap 142.