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Copper, nickel strengthen on uptick in demand

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Press Trust of India New Delhi
Prices of copper and nickel strengthened by upto Rs 3 per kg at the non-ferrous metal market today on increased stockists buying following upsurge in demand from consuming industries amid a firm global trend.

Traders said, increased stockists buying on the back of pick-up in demand from consuming industries at domestic spot market and a firm trend overseas where nickel climbed to over one year highs on violent protests in Jakarta against the city's governor prompted concern about the supply of metal from the country, led to the uptrend.

Globally, nickel for delivery in three months climbed 4.8 per cent to USD 10,965 per tonne at the London Metal Exchange (LME) in yesterday's trade.
 

In the national capital,copper mixed scrap and nickel plate (4x4) advanced by Rs 2 and Rs 3 to Rs 362 and Rs 820-825 per kg, respectively.

Following are today's metal rates (in Rs per kg):

Zinc ingot Rs 108-114, Nickel plate (4x4) Rs 820-825, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 362, chadri deshi Rs 295.

Lead ingot Rs 89, lead imported Rs 95, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Nov 08 2016 | 2:28 PM IST

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