Copper and other base metals strengthened and prices rose up to Rs 5 per kg on the local non-ferrous metal market today on fresh buying by stockists, supported by a firm trend in base metals at the London Metal Exchange (LME) on weakening dollar.
Trading sentiment turned better as copper advanced to the highest price since July 2008 in London, as the dollar weakened.
Meanwhile, copper for three-month delivery jumped 2.3 per cent to $8,525.25 and nickel by 2.8 per cent to $23,865 a metric tonne on the LME.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were up by Rs 5 each to Rs 436, Rs 455 and Rs 416 per kg, respectively. Nickel (4x4) followed suit and traded higher by the same margin to Rs 990-992 per kg.
In line with a general firming trend, zinc ingot, lead ingot and lead imported were also traded higher by Rs 2 each to Rs 127.50, Rs 129 and Rs 131 per kg, respectively.
Following were today's quotations in Rs per kg:
Tin ingot 815, zinc ingot 127.50, nickel plate (4x4) 990-992, gun metal scrap 226 bell metal scrap 228, copper wire scrap 436, copper wire bar 455, copper mixed scrap 416, Utensil scrap 224, Chadripital 175.
Lead ingot 129, lead imported 131, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102.