Select base metals strengthened by up to INR 5 per kilogram in the local nonferrous metal market on increased industrial demand amid a firming global trend.

Trading sentiment remained firm as copper advanced to the highest level in more than 4 months in global markets on dwindling stockpiles which dropped to 342,250 tonnes the lowest level since September 25th 2009.

Meanwhile, copper for 3 month delivery gained 1.2% to USD 8,455.25 per tonne the highest price since September 19 on the London Metal Exchange.

In the national capital, copper mixed scrap remained in demand and added another INR 5 to INR 400, while nickel (4x4) traded higher by INR 2 to INR 1,064 per kilogram to 1,066 per kilogram respectively.

Similarly, zinc ingot, lead ingot and lead imported traded higher by INR 2 each to INR 127 to INR 133, INR 134 and INR 132 per kilogram respectively.

(Sourced from www.expressindia.com)