Base metals rally on bullish global cues

Base metals rallied further at the non-ferrous metal market here today on sustained stockists as well as industrial demand amidst rising trend at the London Metal Exchange (LME).

Nickel prices shot up by Rs 15 per kilo to Rs 1,315 from its overnight closing level of Rs 1,300 and tin also hardened by Rs 10 per kilo to Rs 1,500 as against Rs 1,490 yesterday. 

Copper sheet cutting strengthened by Rs 6 per kilo to Rs 436 from Monday's closing level of Rs 430.   

Copper cable scrap, copper wire bar and brass sheet cutting all rose by Rs 5 per kilo each to Rs 464, Rs 492 and Rs 318. 

Copper scrap heavy, copper armiture, copper utensils scrap, brass utensils scrap and aluminium utensils scrap all moved up by Rs 3 per kilo each to Rs 453, Rs 441, Rs 412, Rs 307 and Rs 105 respectively. 

Zinc edged up by Rs 2 per kilo to Rs 134 and lead inched up by a rupee per kilo to Rs 118.