Copper, nickel up on global cues

Copper and nickel prices edged up by Rs 2 per kg in the local non-ferrous metal market today on firming trend at the London Metal Exchange.

Traders said besides firming trend at the London Metal Exchange, buoyed by the increased imports by China, the world's largest consumer of metal, rising demand from domestic industries, also influenced copper and nickel prices.

Meanwhile, copper for three-month copper gained 1.5 per cent to a new high $9,120 a metric tonne on the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were up by Rs 2 each to Rs 464, Rs 488 and Rs 449 per kg. 

Nickel (4x4) followed suit and traded up by Rs 2 to Rs 1,022-1,024 per kg.

Following were today's quotations in Rs per kg:

Tin ingot 825, zinc ingot 131.50, nickel plate (4x4) 1,022-1,024, gun metal scrap 226 bell metal scrap 228, copper wire scrap 464, copper wire bar 488, copper mixed scrap 449, Utensil scrap 224, Chadripital 175

Lead ingot 135, lead imported 137, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102