Zinc strengthens on global cues

NEW DELHI: Tracking a firm trend overseas, zinc prices rose by Rs 2 per kg at the non-ferrous metal market today.

Traders said buying activity in zinc picked up after it traded near the highest in more than a year in global markets, on prospects for a supply deficit and as central banks pledge to back economic stability, boosting the demand outlook for the metal.

Meanwhile, zinc for delivery in three months rose 0.2 per cent to $2,249 a tonne on the London Metal Exchange. Prices reached $2,294.50 on Thursday, the highest since May 2015, and have risen for seven of the past eight days.

In the national capital, zinc ingot moved up by Rs 2 to Rs 105-111 per kg.

Following are today's metal rates (in Rs per kg):

Zinc ingot Rs 105-111, Nickel plate (4x4) Rs 852-857, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 377, chadri deshi Rs 295.

Lead ingot Rs 90, lead imported Rs 96, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.