Base metal prices rose by up to Rs 5 per kg at the non-ferrous metal market today largely in tandem with a firm trend overseas.
Besides, pick up in demand from consuming industries at domestic spot market fulled the uptrend.
Traders said sentiment bolstered on widening of positions
by participants on the back of a firm trend overseas following noticeable declines in stocks at London Metal Exchange (LME) warehouses on Wednesday, influenced copper prices at futurs trade here.
LME copper stocks fell a net 9,600 tonnes to 293,025 tonnes yesterday. This followed a net decline of 8,750 tonnes on Tuesday.
Globally, copper for delivery in three month rose USD 28 to USD 6,738 a metric tonne on the London Metal Exchange in yesterday's trade.
In the national capital, copper mixed scrap and nickel plate (4x4) rose by Rs 3 and Rs 5 to Rs 445 and Rs 864-869 per kg respectively.
Zinc ingot, lead ingot and lead imported also went up by Rs 2 each to Rs 138-144, Rs 139 and Rs 146 per kg respectively.
In line with overall trend, aluminium ingot, sheet cutting, wire scrap and utensils scrap too enquired higher by Rs 2
each to Rs168, Rs 164, Rs 164 and Rs 162 per kg respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 138-144, nickel plate (4x4) Rs 864-869,
gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed
scrap Rs 445, chadri deshi Rs 295.
Lead ingot Rs 139, lead imported Rs 146, aluminium ingots Rs 168, aluminium sheet cutting Rs 164, aluminium wire scrap Rs 164 and aluminium utensils scrap Rs 162.
Disclaimer: No Business Standard Journalist was involved in creation of this content
