PTI reported that select base metals, led by nickel and copper rose up to INR 20 per kilogram in the local nonferrous metal market on sustained buying by stockists in tandem with a firming trend at the London Metal Exchange.
Sentiment turned firm after copper rose to its highest level in almost five months in London, as weak dollar made metals cheaper for buyers holding other currencies. Meanwhile, copper for the 3 month contract on the LME gained 0.8% to USD 7,765 per tonne the highest price since April 27.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap gained INR 5 each to INR 400, INR 419 and INR 380, respectively while nickel traded higher by INR 20 at INR 940 to INR 944 per kilogram.
Following were quotations in INR per kilogram:
Tin ingot 800, zinc ingot 125.50, nickel plate (4x4) 940- 944, gun metal scrap 226 bell metal scrap 228, copper wire scrap 400, copper wire bar 419, copper mixed scrap 380.00, Utensil scrap 224, Chadripital 175
Lead ingot 128, lead imported 130, aluminium ingots 100, sheet cutting 103, aluminium wire scrap 100 and aluminium utensils scrap 100.
