Select base metals remain up on global cues

NEW DELHI: Select base metals firmed up to Rs 2 per kg in the local non-ferrous metals market today on increased industrial demand amid a firming global trend.

Trading sentiment remained firm as copper gained in London after manufacturing expanded for the fifth month in April in China, the world's largest buyer of the metal.

Meanwhile, copper rose 0.1 per cent to USD 8,405 a tonne on the London Metal Exchange.

Traders said sustained demand from industrial units amid a firming global trend mainly helped select base metal prices to strengthen.

In the national capital, copper mixed scrap and nickel (4x4) strengthened by Rs 2 each to Rs 396 and Rs 1,077-1,079 per kg, respectively.

Lead ingot and lead imported were also inched up by rupee one each to Rs 129 and Rs 127 per kg, respectively.

The following are metal rates per kg: Zinc ingot 116-122, nickel plate (4x4) 1,077-1,079, gun metal scrap 226, bell metal scrap 228, copper mixed scrap 396, chadri deshi 285.

Lead ingot 129, lead imported 127, aluminium ingots 122, sheet cutting 124, aluminium wire scrap 128 and aluminium utensils scrap 123.