IND: Base metals strengthen on global cues, pick up demand
New Delhi, Feb 4 Select base metals extended gains in the national capital today, taking cues from global markets and pick up in demand from consuming industries.
Sentiments were largely buoyed after copper traded near one-week high in London on speculation that the government spending plans in China and the US, the world&aposs largest users of the metal, will spur economic growth and boost demand.
Meanwhile at London Metal Exchange (LME), copper for three-month delivery rose 1.1 per cent to 3,410 dollar a tonne, the highest intra day price since January 28.
At wholesale market here, copper&apossuper-D-rod&aposand copper&aposwire-bar&aposprices rose by Rs 5 each at Rs 242 and Rs 247 per kg respectively. Tin ingot also gained Rs 5 at Rs 720 per kg.
Nickel 4x4 on fresh demand from steel makers gained Rs 10 at Rs 685-845 per kg.
Following were today&aposs quotations Rs per kg:.
Tin ingot 720, zinc ingot (Hindustan) 76, nickel plate (4x4) 685-845, gun metal scrap 225 bell metal scrap 230, copper wire scrap 220, copper super D rod 242, copper wire bar 247, copper mixed scrap 193, Utensil scrap 220, Chadripital 165.
Source: PTI
