Select base metals led by copper, rose by up to Rs 5 per kg in the local non-ferrous metal market today on emergence of buying by stockists influenced by a firming trend at the London Metal Exchange.
Increased demand from consuming industries also supported the uptrend.
Trading sentiment turned better after copper in London rebounded from a more than three-week low as a strike at the world's largest copper mine ended its second week, disrupting supply forecast to be in a shortage this year.
Meanwhile, copper for delivery in three months rose 0.8% to $9,608 a tonne at the LME. The contract had dropped to $9,520 yesterday, the lowest intra-day level since July 12.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were enquired higher by Rs 2 each to Rs 520, Rs 543 and Rs 503, respectively. Nickel (4x4) followed suit and gained Rs 5 to Rs 1,068-1,070 per kg.
In line with a general firming trend, zinc ingot, lead ingot and lead imported also traded higher by Rs 2 each to Rs 130.50, Rs 142 and Rs 145 per kg, respectively.
Following were today's quotations in Rs per kg:
Tin ingot 840, zinc ingot 130.50, nickel plate (4x4) 1,068-1,070, gun metal scrap 226 bell metal scrap 228, copper wire scrap 520, copper wire bar 543, copper mixed scrap 503, Utensil scrap 224, Chadripital 175
Lead ingot 142, lead imported 145, aluminium ingots 112, sheet cutting 113, aluminium wire scrap 112 and aluminium utensils scrap 109
