Select base metals gains on global cues

Select base metals moved up at the non-ferrous metal market on Monday due to good stockist buying amidst industrial offtake.

By PTI | Updated: Jul 04, 2011, 04.59 PM IST

MUMBAI: Select base metals moved up at the non-ferrous metal market here today due to good stockist buying amidst industrial offtake on the back of higher global cues.

Meanwhile, lead eased on subdued demand from consumer industries.

The industrial metals rose to a two month high at the LME on strong US manufacturing data sidelining the concerns over economic slowdown.

Copper cable scrap and copper wire bar both firmed up by Rs 3 per kilo each to Rs 469 and Rs 497 from last Saturday's closing level of Rs 466 and Rs 494.

Copper scrap heavy and brass sheet cutting edged up by Rs 2 per kilo each to Rs 459 and Rs 319 respectively as against Rs 457 and Rs 317 last weekend.

Copper armiture, copper sheet cutting and brass utensils scrap inched up by a rupee per kilo each to Rs 448, Rs 444 and Rs 307.

However, lead softened by a rupee per kilo to Rs 124.

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