Base metals rise on stockists buying

Base metals showed some strength with prices rising by Rs 2 per kg at the non-ferrous metal market today on emergence of stockists buying following uptick in demand from consuming industries amid a firm global trend.
Traders said stockists buying following pick-up in demand from consuming industries at domestic spot market amid a firm trend overseas mainly led to the rise in base metal prices.
Globally, nickel surged 3.7 per cent to a three-month high at the London Metal Exchange (LME) after violent protests in Jakarta on Friday spurred concern that Indonesian supplies could be disrupted. Copper advanced to its highest level since April at the LME.

In the national capital,copper mixed scrap and nickel plate (4x4) went up by Rs 2 each to Rs 360 and Rs 817-822 per kg, respectively.
Zinc ingot, lead ingot and lead imported were also enquired higher by a similar margin to Rs 108-114, Rs 89 and Rs 95 per kg, respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 108-114, Nickel plate (4x4) Rs 817-822, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 360, chadri deshi Rs 295.
Lead ingot Rs 89, lead imported Rs 95, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.