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Copper, nickel strengthen on strong global trend

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Press Trust of India New Delhi

Copper and nickel strengthened by Rs 2 per kg on the local non-ferrous metal market today on increased buying by stockists influenced by a firm trend at the London Metal Exchange (LME).  

Meanwhile, copper for three-month delivery advanced for a sixth day, gaining 0.4 per cent to $9,984.75 a tonne, surpassing the previous peak of $9,968 reached yesterday.

Nickel also increased 0.5 per cent to $28,130.   

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were up by Rs 2 each to Rs 504, Rs 527 and Rs 488 per kg, respectively.

Nickel (4x4) also traded higher by the same margin to Rs 1,052-1,054 per kg.

Following were today's quotations in Rs per kg:     

Tin ingot 840, zinc ingot 133.50, nickel plate (4x4) 1,052-1,054, gun metal scrap 226 bell metal scrap 228, copper wire scrap 504, copper wire bar 527, copper mixed scrap 488, Utensil scrap 224, Chadripital 175

Lead ingot 138, lead imported 140, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102

 

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First Published: Feb 02 2011 | 3:59 PM IST

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