Base metals rise on spot demand, global cues

Prices of base metal rose by Rs 2 per kg at the non-ferrous metal market today following rising demand from consuming industries at domestic spot market amid a firm trend overseas.
Traders said besides pick up in demand from consuming industries at domestic spot market, a firm trend in base metal in global markets mainly led to the rise in base metal prices.
Globally, copper three-month forwards jumped 1.3 per cent at the London Metal Exchange as workers at the world's biggest copper mine vowed to start an indefinite strike on Thursday as talks with BHP Billiton failed to produce an agreement following weeks of collective bargaining in Chile.

In the national capital, copper mixed scrap and nickel plate (4x4) edged up by Rs 2 each to Rs 357 and Rs 812-817 per kg, respectively. Zinc ingot, lead ingot and lead imported were also enquired higher by a similar margin to Rs 104-110, Rs 91 and Rs 97 per kg, respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 104-110, Nickel plate (4x4) Rs 812-817, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 357, chadri deshi Rs 295.
Lead ingot Rs 91, lead imported Rs 97, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.