Base metal prices, led by copper rose upto 5 per kg on the local non-ferrous metals market today on fresh buying by traders in tandem with a firming trend at the London Metal Exchange.
Trading sentiment turned better after copper advanced for the first time in four days in global markets, as China indicated an end to the yuan's fixed rate to the dollar, boosting confidence in the global economic recovery and lifting the demand outlook for raw materials.
Fresh buying in tandem with a firming trend at the London Metal Exchange pushed up base metal prices. Copper for three-month delivery rose by 2.6 per cent to $6,600, zinc by 3.7 per cent to $1,794.50 and nickel was 2.1 per cent higher at $20,000 on the London Metal Exchange.
Copper wire scrap, copper wire bar and copper mixed scrap enquired higher by Rs 5 each to Rs 359, Rs 378 and Rs 337 per kg, respectively.
Nickel (4x4) followed suit and traded higher by the same margin at Rs 879-993, while zinc ingot, lead ingot and lead imported gained Rs two each to Rs 122, Rs 119 and Rs 122 per kg.
Following were today's quotations in Rs per kg:
Also Read
Tin ingot 795, zinc ingot 122.00, nickel plate (4x4) 879 -993, gun metal scrap 226 bell metal scrap 228, copper wire scrap 359, copper wire bar 378, copper mixed scrap 337.00, Utensil scrap 224, Chadripital 175
Lead ingot 119, lead imported 122, aluminium ingots 102, sheet cutting 103, aluminium wire scrap 100 and aluminium utensils scrap 100