Select base metals extend gain on global cues

Select base metal prices advanced by up to Rs 5 per kg at the non-ferrous metals market Thursday largely in tandem with a firm trend overseas.

Traders said sentiment remained better in tune with a firm trend overseas after london copper hovered near a three-week peak Thursday amid relief that latest tariffs in the Sino-US trade conflict were set at lower levels than some had feared.

Globally, copper for delivery in three-month was trading flat at USD 6,118 a tonne, holding a half-percent gain from the previous session when prices tipped their strongest since August 29 at USD 6,145 a tonne on the London Metal Exchange.

 

Also, Shanghai Futures Exchange copper was steady at 49,530 yuan (USD 7,233) a tonne.

In the national capital, copper mixed scrap and nickel plate (4x4) advanced by Rs 2 and Rs 5 to Rs 447 and Rs 945-947 per kg, respectively.

Zinc ingot, lead ingot and lead imported also traded higher by Rs 2 each to Rs 149-155, Rs 152 and Rs 159 per kg respectively.

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

Zinc ingot Rs 149-155, nickel plate (4x4) Rs 945-947, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 447, chadri deshi Rs 295.

Lead ingot Rs 152, lead imported Rs 159, aluminium ingots Rs 170, aluminium sheet cutting Rs 166, aluminium wire scrap Rs 166 and aluminium utensils scrap Rs 164.