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Base metals strengthen on global cues

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 1:11 AM IST

Copper and other base metals remained firm for the third day by adding up to Rs 5 per kg in the non-ferrous metal market today in line with a firming global trend.

Increased offtake by consuming industries also boosted the market sentiment.

Marketmen said besides, firming trend overseas, stockists buying on account of strong demand also influenced the base metal prices.

Meanwhile, copper for three-month delivery added 0.3 per cent to $7,325, nickel by 1.7 per cent to $20,798 and tin jumped 1.6 per cent to $21,700 a metric tone on the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap strengthened by Rs 2 each to Rs 381, Rs 400 and Rs 361, nickel (4x4) by Rs 5 to Rs 908-912, while tin ingot traded higher by Rs 5 to Rs 800 per kg, respectively.

Following were today's quotations in Rs per kg:

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Tin ingot 800, zinc ingot 120.50, nickel plate (4x4) 908-912, gun metal scrap 226 bell metal scrap 228, copper wire scrap 381, copper wire bar 400, copper mixed scrap 361.00, Utensil scrap 224, Chadripital 175

Lead ingot 123, lead imported 125, aluminium ingots 100, sheet cutting 103, aluminium wire scrap 100 and aluminium utensils scrap 100

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First Published: Aug 27 2010 | 4:26 PM IST

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