Business Standard

Monday, January 06, 2025 | 03:51 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Select base metals strengthen on global cues

Image

Press Trust of India New Delhi

Buoyed by the firm trend at the London Metal Exchange (LME), copper and other base metals strengthened up to Rs 5 per kg on the wholesale non-ferrous metal market today.

Pick up in demand from consuming industries also supported the upside in prices.

Traders said sentiment turned better after the entire base metals rose at the LME after accelerated manufacturing by the China, the world's largest consumer of the metals and a weak dollar raised appeal for the commodities as an alternative investment.

Meanwhile, copper for delivery in three months rose by 1.27 per cent to $8,294 a tonne, nickel up by 1.1 per cent to $23,250, while lead by 1.2 per cent to $2,478 a tonne.

 

Nickel and tin both rose by Rs 5 per kilo each to Rs 1,155 and Rs 1,310 from last weekend's closing level of Rs 1,150 and Rs 1,305, respectively. 

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were up by Rs 5 each to Rs 435, Rs 454 and Rs 415 per kg, respectively.

Nickel plate (4x4) up by Rs 5 to Rs 990-992 per kg, while lead ingot and lead imported up by Rs 2 each to Rs 129 and Rs 131 per kg, respectively.

However, aluminium utensils scrap moved down by Rs 2 per kilo to Rs 99 last Saturday's closing level of Rs 101. 

Brass utensils scrap, copper cable scrap and copper wire bar, all softened by a rupee per kilo each to Rs 265, Rs 395 and Rs 423 respectively.

Following were today's quotations in Rs per kg:

Tin ingot 810, zinc ingot 125.50, nickel plate (4x4) 990-982, gun metal scrap 226 bell metal scrap 228, copper wire scrap 435, copper wire bar 454, copper mixed scrap 415, Utensil scrap 224, Chadripital 175
Lead ingot 129, lead imported 131, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 01 2010 | 4:52 PM IST

Explore News