MUMBAI: Most of the base metals recovered at the non-ferrous metal market here today on stockists buying amid fresh demand from industrial users on the back of higher London Metal Exchange (LME) cues.
The industrial metals firmed up at the LME to hit their highest level in nearly a month, after the US Federal Reserve chairman signalled a commitment to monetary stimulus in the foreseeable future, helping boost appetite for risky assets.
Nickel shot-up by Rs 10 per kg to Rs 975 from Wednesday's closing level of Rs 965. Copper armiture climbed by Rs 4 per kg to Rs 471 from Rs 467.
Copper cable scrap, copper scrap heavy and copper wire bar all moved up by Rs 3 per kg each to Rs 489, Rs 481 and Rs 517 from Rs 486, Rs 478 and Rs 514, respectively.
Copper utensils scrap and copper sheet cutting went up by Rs 2 per kg each to Rs 446 and Rs 465 from Rs 444 and Rs 463. Brass sheet cutting, zinc and lead inched-up by a rupee per kg each to Rs 336, Rs 150 and Rs 135.
However, Aluminium ingots declined by Rs 2 per kg to Rs 142 as against Rs 144 yesterday. Brass utensils scrap softened by a rupee per kg to Rs 326.
