Select base metal prices rose by up to Rs 5 per kg in the local non-ferrous metal market today on increased industrial demand amid a firming trend at the London Metal Exchange.
Trading sentiments turned better as copper rebounded from a five-month low, and zinc and lead, climbed after stronger-than-forecast US jobs growth boosted confidence in the demand outlook in the world's second-largest user of the metal.
Meanwhile, copper for three-month delivery gained 1.4% to $8,949 a metric tonne on the London Metal Exchange.
Traders said increased industrial demand and reports of firming trend in base metals at London Metal Exchange mainly pushed up select base metal prices. In the national capital, copper wire scrap, copper wire bar and copper mixed scrap rose by Rs 2 each to Rs 504, Rs 527 and Rs 488 per kg, respectively.
Nickel (4x4) followed suit and traded higher by Rs 5 to Rs 1070-1072, while lead ingot and lead imported gained Rs 2 each to 140 and Rs 142 per kg, respectively.
Zinc ingot also moved up by Rs 2 to Rs 135.50 per kg.
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Following were today's quotations per kg:
Tin ingot 850, zinc ingot 135.50, nickel plate (4x4) 1,070-1,072, gun metal scrap 226 bell metal scrap 228, copper wire scrap 504, copper wire bar 527, copper mixed scrap 488, Utensil scrap 224, Chadripital 175
Lead ingot 140, lead imported 142, aluminium ingots 109, sheet cutting 110, aluminium wire scrap 110 and aluminium utensils scrap 107