| Lead ingot and nickel cathode rose by Rs 5 and by Rs 53 to Rs 62.5 a kg and Rs 745 a kg, respectively. |
| Prices are heading north on the back of heavy construction activities, local traders said. As domestic metal prices toe the LME line, any movement in the international market impacts prices here, one of the traders said. |
| Lead and zinc gained 30 per cent and 20 per cent to move up to $1,415 a tonne and $2,273 a tonne, respectively. Aluminium and copper moved up 9 per cent each in January to $2,465 a tonne and $2,465 a tonne. |
| Rising stainless steel demand from European and American markets pushed nickel price by 12 per cent to $15,000. |
| Offtake in LME-registered warehouses surged in January and therefore, stocks slumped dramatically owing to supply disruptions due to frequent strikes at mines and smelters. |
| Copper is all set to cross the psychological barrier of $5,000 as demand is rising amid slack supplies, the trader said. |
| In the domestic market, metal consumption has slumped by more than 90 per cent as traders expect prices to fall. |
| "At this stage, we cannot afford to book fresh orders as prices are mounting," said an an other trader. |
| Lead and zinc are gaining momentum on supply concerns despite slow demand in the domestic market. World zinc prices are expected to remain high in 2006 owing to supply shortage in major producing centres. |
| Zinc stocks are expected to remain critically low in 2006, despite new products that will add an estimated one million tonne a year to global supply between 2005 and 2007. |
| Globally, an expected rise in Chinese imports coupled with already low inventories will keep refined world zinc supply in deficit for the third consecutive year. |
| Traders have already started looking at alternatives for zinc, such as plastic. |
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