Select base metal prices recovered up to Rs 2 per kg on the local non-ferrous metal market today, driven by a firming trend at the London Metal Exchange (LME) and pick up in industrial demand.
Sentiments turned better after copper rebounded from its biggest drop in more than a week in London on expectations that the world will be short of the metal this year even as the near-term demand outlook dimmed after China further tightened liquidity.
Meanwhile, copper for three-month rose by 0.9 per cent to $9,482.50 and zinc by 1.1% to $2,306 a tonne on the LME.
In the national capital, copper wire scrap,copper wire bar and copper mixed scrap were rebounded by Rs 2 each to Rs 504, Rs 527 and Rs 488 per kg, respectively.
Zinc ingot, lead ingot and lead imported also enquired higher by Re 1 each to Rs 127.50, Rs 134 and Rs 136 per kg, respectively.
Following were today's quotations per kg:
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Tin ingot 833, zinc ingot 127.50, nickel plate (4x4) 1,044-1,046, 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 134, lead imported 136, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102