ET:Base metals rise on industrial demand, global cues
NEW DELHI: Base metals led by copper rose up to 4 per kg on the local non-ferrous metals market on Monday on increased industrial demand amid a firming global trend.
Traders said bolstered after copper extended a third weekly advance in global markets amid speculation that demand from China, the largest user, may be stronger than economic data indicate.
Meanwhile, copper for delivery in three months rose 0.9 per cent to $7,444 a tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) rose by Rs 2 and Rs 4 to Rs 423 and Rs 1,060-1,063 per kg, respectively.
Zinc ingot, lead ingot and lead imported were also traded higher by Rs 2 each to Rs 117-123, Rs 140 and Rs 138 per kg, respectively.
The following were on Monday's metal rates per kg: Zinc ingot 117-123, nickel plate (4x4) 1,060-1,063, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 423, chadri deshi 285.
Lead ingot 140, lead imported 138, aluminium ingots 142, sheet cutting 143, aluminium wire scrap 146 and aluminium utensils scrap 142.