Select base metals rise on global cues

NEW DELHI: Select base metals showed some strength and prices rose by Rs 2 per kg on the local non-ferrous metal market today largely on industrial demand amid a firm global trend.

Traders said stockists buying to meet industrial demand and a firming global trend as some investors said a slowdown in China had been factored into prices as largest metals user released its June manufacturing data, mainly influenced the sentiment.

Meanwhile, copper rose 0.4 per cent to 6,778 dollar a metric tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and nickel (4x4) rose by Rs 2 each to Rs 426 and Rs 1039-1042 per kg respectively. Zinc ingot, lead ingot and lead imported were also traded higher by similar margin to Rs 111-117, Rs 145 and Rs 141 per kg, respectively.

The following are today's metal rates per kg: Zinc ingot 111-117, nickel plate (4x4) 1,039-1,042 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 426, chadri deshi 285.

Lead ingot 145, lead imported 141, aluminium ingots 142, sheet cutting 143, aluminium wire scrap 146 and aluminium utensils scrap 142.