SG:Indian copper and zinc up on increased industrial demand and global cues
ET reported that copper and zinc prices gained INR 2 per kilogram on the local nonferrous metals market today on increased industrial demand amid a firming global trend.
Traders said that buying activity picked up as copper advanced, as economic data from the US and China, the two biggest consumers of industrial metals, boosted demand prospects.
Meanwhile, copper for delivery in 3 months rose 0.9% to USD 7,649 per tonne on the London Metal Exchange. In the national capital, copper mixed scrap and zinc ingot rose by INR 2 each to INR 437 and INR 125 to INR 131 per kilogram respectively.
The following are metal rates per kg: Zinc ingot 125 to 131, nickel plate (4x4) 1,060-1,063, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 437, chadri deshi 285. Lead ingot 146, lead imported 144, aluminium ingots 142, sheet cutting 143, aluminium wire scrap 146 and aluminium utensils scrap 142.
