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Base metals continue to advance on strong global cues

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Press Trust of India Mumbai

Bullish trend continued in base metals trade at the non-ferrous metal market here today on hectic stockists and industrial buying amidst firming trend at the London Metal Exchange (LME).   

Nickel prices hardened by Rs 15 per kg to Rs 1,330 from overnight closing level of Rs 1,315 and tin strengthend by Rs 10 per kg to Rs 1,510 as against Rs 1,500 yesterday. 

Copper scrap heavy and brass utensils scrap both surged by Rs 7 per kg each to Rs 460 and Rs 314 from Rs 453 and Rs 307, respectively in the previous session.  

Aluminium ingots rose by Rs 6 per kg to Rs 135 from Rs 129.

Copper cable scrap, copper wire bar and brass sheet cutting all gained by Rs 5 per kg each to Rs 469, Rs 497 and Rs 323 respectively.

Copper armature, copper utensils scrap and copper sheet cuttings firmed up by Rs 4 per kg each to Rs 445, Rs 416 and Rs 440. 

Aluminium utensils scrap and zinc both inched up by Re 1 per kg each to Rs 106 and Rs 135.

 

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First Published: Feb 02 2011 | 5:31 PM IST

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