The News Scroll 09 July 2018  Last Updated at 3:01 pm | Source: PTI

Copper, nickel rise on global cues

Copper, nickel rise on global cues

New Delhi, Jul 9 (PTI) Prices of copper and nickel rose by up to Rs 5 per kg at the non-ferrous metals market today, tracking a firm trend overseas.

Besides, uptick in demand from consuming industries at domestic spot market, fuelled the uptrend.

Traders said sentiment boosted after London copper snapped back sharply today from near one-year lows hit in the session, as a weak dollar forced short holders to cover positions even amid simmering trade war tension.

Globally, copper for delivery in three-month rallied by 1.6 per cent to USD 6,383.50 after prices slumped to USD 6,221.50 a tonne on Friday, which was the weakest since late July 2017 on the London Metal Exchange.

Copper on Shanghai Futures Exchange also rebounded by 1.1 per cent to 49,810 yuan (USD 7,502) a tonne.

In the national capital, copper mixed scrap and nickel plate (4x4) rose by Rs 4 and Rs 5 to Rs 430 and Rs 887-890 per kg, respectively.

Following are today's metal rates (in Rs per kg):

Zinc ingot Rs 133-139, nickel plate (4x4) Rs 887-890, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 430, chadri deshi Rs 295.

Lead ingot Rs 138, lead imported Rs 145, aluminium ingots Rs 168, aluminium sheet cutting Rs 164, aluminium wire scrap Rs 164 and aluminium utensils scrap Rs 162.

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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