Select base metals strengthen on global cues

NEW DELHI: Select base metals, led by copper rose by Rs 2 per kg on the local non-ferrous metals market today on stockists buying in tandem with a firming global trend.


Traders said sentiment bolstered after copper traded near the highest level in three weeks in overseas market as China's export and import growth in April exceeded estimates.

Meanwhile, copper for delivery in three months rose 0.7 per cent to 7,315.50 dollar a metric tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and zinc ingot rose by Rs 2 each to Rs 423 and Rs 119-125 per kg, respectively. Lead ingot and lead imported were also enquired higher by similar margin to Rs 142 and Rs 140 per kg, respectively.

The following were today's metal rates per kg: Zinc ingot 119-125, nickel plate (4x4) 1,054-1,057, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 423, chadri deshi 285.

Lead ingot 142, lead imported 140, aluminium ingots 142, sheet cutting 143, aluminium wire scrap 146 and aluminium utensils scrap 142.