Copper remains up on firm global cues

Copper continued its upward march for the third straight day by adding Rs 2 per kg on the local non-ferrous metal market today, supported by a firm trend at London Metal Exchange.

Other base metals, however, after moving in a tight range on some deals, settled around previous closing.

Marketmen said firming trend at the London Metal Exchange, where copper climbed for the third day to three-week high on improving global economic data, adding to signs of a revival in demand, influenced metal prices in futures trade here.

Meanwhile, copper for three-month delivery rose by 1.3 per cent to $8,694.75 a metric tonne, the highest price since November 12.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were in demand and added Rs 2 each to Rs 450, Rs 474 and Rs 435 per kg.

Following were today's quotations in Rs per kg:

Tin ingot 815, zinc ingot 130.50, nickel plate (4x4) 1,005-1,007, gun metal scrap 226 bell metal scrap 228, copper wire scrap 450, copper wire bar 474, copper mixed scrap 435, Utensil scrap 224, Chadripital 175

Lead ingot 134, lead imported 136, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102