17 DECEMBER 2014Business Standard
Base metal prices rise on global cues
Edited by : AL CIRCLE
1 min read
Base metal prices rose by INR2 per kg at the local non-ferrous market today on increased buying by stockists, tracking a firm global trend.
Traders said sentiment bolstered after aluminium rose in global markets on speculation that China will further stimulate the economy and as inventories fell to near a four-year low.
Meanwhile, aluminium for delivery in three months gained USD 11 to USD 1,946 a metric ton on the London Metal Exchange.
In the national capital, aluminium ingots, aluminium sheet cutting, aluminium wire scrap and aluminium utensils scrap were up by INR 2 each to INR 164, INR 165, INR 167 and INR 164 per kg respectively.
Traders said sentiment bolstered after aluminium rose in global markets on speculation that China will further stimulate the economy and as inventories fell to near a four-year low.
Meanwhile, aluminium for delivery in three months gained USD 11 to USD 1,946 a metric ton on the London Metal Exchange.
In the national capital, aluminium ingots, aluminium sheet cutting, aluminium wire scrap and aluminium utensils scrap were up by INR 2 each to INR 164, INR 165, INR 167 and INR 164 per kg respectively.
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