Copper strengthens on industrial demand, global cues

Traders said besides industrial demand, reports of firming trend at the LME, also supported the rise in copper prices. Meanwhile, copper for the metal for delivery in three months traded higher at 8,103.50 per tonne at the LME.

| Updated: Dec 12, 2012, 02.46 PM IST

NEW DELHI: In thin trading, copper prices rose by Rs 3 per kg on the wholesale non-ferrous metal market today on the back of pick up in industrial demand amid a firming trend overseas.

Other base metals, including nickel and lead, in range-bound movements, remained steady.

Traders said besides industrial demand, reports of firming trend at the London Metal Exchange (LME), also supported the rise in copper prices.

Meanwhile, copper for the metal for delivery in three months traded higher at 8,103.50 per tonne at the LME.

In the national capital, copper mixed scrap rose by Rs 3 to Rs 400 per kg.

The following are metal rates per kg: Zinc ingot 108-112, nickel plate (4x4) 1,041-1,044, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 400, chadri deshi 285.

Lead ingot 136, lead imported 134, aluminium ingots 128,sheet cutting 129, aluminium wire scrap 133 and aluminium utensils scrap 128.

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