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Base metals rally on strong industrial demand, global cues

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Press Trust of India Mumbai

Base metals prices rallied at the non-ferrous metal market here today on the back of strong industrial demand coupled with hectic stockists buying.

Firming trend in the London Metal Exchange (LME) also supported the uptrend.

Nickel hardened by Rs 25 per kilo to Rs 1,125 from last weekend's closing level of Rs 1,100 and copper sheets cutting strengthened by Rs 7 per kilo to Rs 354 as against Rs 347 previously.

Tin, copper scrap heavy, copper armiture and copper utensils scrap rose Rs 5 per kilo each to Rs 935, Rs 361, Rs 357 and Rs 343, respectively.

Copper cable scrap and copper wire bar, both firmed up by Rs 4 per kilo to Rs 365 and Rs 393.

 

Brass utensils scrap and brass sheets cutting both moved up by Rs 3 per kilo each to Rs 254 and Rs 263. Zinc and lead also inched up by a rupee per kilo each to Rs 110 and Rs 104.

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First Published: Jun 14 2010 | 5:21 PM IST

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