Copper, nickel rise on higher global trend

New Delhi, Feb 25 (PTI) Prices of copper and nickel rose up to Rs 5 per kg on the local non-ferrous metal market today on fresh buying by stockists influenced by firming trend at the London Metal Exchange (LME).

Traders said emergence of buying by stockists on the back of a firming trend at LME, mainly led to the rise in copper and nickel prices.

Meanwhile, copper for three-month delivery gained 0.9 per cent to USD 9,589.75 and nickel went up by 0.6 per cent to USD 27,671 on the LME.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were up by Rs 2 each to Rs 523, Rs 546 and Rs 507, respectively, while nickel (4x4) gained Rs 5 to Rs 1,063-1,065 per kg.

Following were today''s quotations in Rs per kg:

Tin ingot 838, zinc ingot 130.50, nickel plate (4x4) 1,063-1,065, gun metal scrap 226 bell metal scrap 228, copper wire scrap 523, copper wire bar 546, copper mixed scrap 507, Utensil scrap 224, Chadripital 175.

Lead ingot 139, lead imported 141, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102.

(Source: http://in.news.yahoo.com/copper-nickel-rise-higher-global-trend-20110225-020500-452.html)