Base metals gain on positive global cues

Base metal prices rose by up to Rs 5 kg at the non-ferrous metal market today in tandem with a firm trend overseas.
Traders attributed the rise in base metal prices to a strong global trend as a weaker dollar helped the base metal to rebound from a one-month low.
Globally, copper three-month forwards ended up 3.3 per cent higher at USD 7,150 per tonne on the London Metal Exchange yesterday.
Besides, pick-up in demand from consuming industries at domestic spot market fuelled the uptrend, they said.
In the national capital, copper mixed scrap and nickel plate (4x4) advanced by Rs 2 and Rs 5 to Rs 402 and Rs 760-765 per kg, respectively.

Zinc ingot, lead ingot and lead imported were also enquired higher by Rs 2 each to Rs 120-126, Rs 123 and Rs 129 per kg, respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 120-126, Nickel plate (4x4) Rs 760-765, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 402, chadri deshi Rs 295.
Lead ingot Rs 123, lead imported Rs 129, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.