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Select base metals recover on industrial demand

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Press Trust of India New Delhi

Select base metals, led by copper regained strength to close up to Rs 3 per kg higher on the local metal market today largely on the back of pick-up in demand from consuming industries. 

However, absence of positive cues from global markets on escalating euro zone debt worries, restricted the gains.

Traders said fresh buying support from consuming industries such as cable and alloy makers, helped select base metals to show firmness.  

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were up by Rs 2 each to Rs 500, Rs 523 and Rs 483, respectively, while nickel (4x4) added Rs 3 to Rs 1,050-1,052 per kg, respectively.

 

Following were today's quotations in Rs per kg:

Tin ingot 840, zinc ingot 128.50, nickel plate (4x4) 1,050-1,052, gun metal scrap 226 bell metal scrap 228, copper wire scrap 500, copper wire bar 523, copper mixed scrap 483, Utensil scrap 224, Chadripital 175

Lead ingot 140, lead imported 143, aluminium ingots 110, sheet cutting 111, aluminium wire scrap 110 and aluminium utensils scrap 107

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First Published: Jul 12 2011 | 2:24 PM IST

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