Copper, nickel strengthens on global cues

Prices of copper and nickel strengthened by Rs 2 per kg on the local non-ferrous base metals market today on increased stockists buying in line with firming global trend.
Traders said increased stockists buying and a firming global trend on concern that supplies from mines will trail forecasts amid speculation that demand may increase in China, the biggest user of industrial metals, mainly influenced the sentiment.
Meanwhile, copper for delivery in three months added 0.7 per cent to 6,604.50 dollar a metric tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) advanced by Rs 2 each to Rs 438 and Rs 1,060-1,061 per kg respectively.

The following were today's metal rates per kg:
Zinc ingot 115-121, nickel plate (4x4) 1,060-1,061 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 438, chadri deshi 285.
Lead ingot 130, lead imported 128, aluminium ingots 146, Aluminium sheet cutting 147, aluminium wire scrap 149 and aluminium utensils scrap 146.