The Hindu Business Line : Select base metals up on higher global cues

NEW DELHI: Prices of base metals on Friday gained Rs 2-10 a kilo on the non-ferrous metal market here following speculative buying by stockists on the back of higher London Metal Exchange advices.

Market men said increased buying by stockists and consuming industries on the back of higher global advices pushed up base metal prices.

In London Metal Exchange (LME) nickel jumped up further by $1,625 at $31,400, copper up by $321 at $8,501, tin rose by $345 at $20,645 and lead moved up by $101 at $2,900 a metric tonne.

In local market, nickel plate (4x4), (9x9) and (4x24) swifted by Rs 10 each at Rs 1,405-1,470, Rs 1,410-1,480 and Rs 1,420-1,490 a kilo respectively.

Copper wire scrap, copper super d rod, copper wire bar, copper mixed scrap, c c rod, utensil scrap and mixed scrap all moved up by Rs 2 each to close at Rs 343, Rs 368, Rs 363, Rs 323, Rs 353, Rs 308 and Rs 303 a kilo respectively.

Tin ingot finished higher from Rs 850 to settle at Rs 855 a kilo on increased buying support. Zinc slab and zinc dross asked higher at Rs 130 and Rs 110 a kilo on fresh buying interest.

Lead ingot and lead imported settled higher at Rs 102 and Rs 138-140 from Rs 100 and Rs 135-137 a kilo on buying interest. - PTI

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