On the ascend

MARKET REVIEW/ DOMESTIC - BASE METALS

The local base metals swelled this week following the trend on the London Metal Exchange (LME). Besides zinc, all other metals, especially copper, witnessed gains in the local market.

Locally, the price of nickel cathodes swelled to close at Rs 835.00 per kilogram, from Rs 830.00 on Monday.

Copper wire bars edged up to Rs 205.00 from Rs 204.00 on Monday. Copper heavy scraps closed at Rs 175.00 on Monday from last week's close at Rs 172.

Copper utensil was up by Rs 6, at Rs 158 from Rs 152 last week and brass utensil scraps closed up by Rs 2 at Rs 126 from Rs 124 last week. Brass sheet cutting closed at Rs 131 on Monday, from Rs 130, and aluminium utensil scraps closed at Rs 85 from Rs 83 last week.

Aluminium ingots remained unchanged from the last week's close of Rs 103 despite rising a tad to Rs 104 Wednesday and Thursday. Lead ingots closed at Rs 52.50 from Rs 52.00.

Zinc slabs closed at Rs 82 from Rs 79. Tin slabs closed at Rs 462, down from Rs 468 the previous week.

Copper light scraps also shined at Rs 171 from Rs 168 last week and copper sheet cutting closed at Rs 168 from last week's close of Rs 163.