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Obamas Win spike up base metals

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by - 11/8/2012 9915 Views

Most of the base metals rose at the non-ferrous metal market yesterday bolstered by news that Barack Obama has won a second term as president of the US.

Most of the base metals rose at the non-ferrous metal market yesterday bolstered by news that Barack Obama has won a second term as president of the US.

Bullish London Metal Exchange (LME) sign along with improved industrial demand and sustained stockists buying pushed up most of the base metals at the non-ferrous metal market and Industrial metal too rose at the LME, spurring hopes Washington will continue with economic stimulus measures.

Copper Mixed Scrap moved up by Rs 2 per kg to 443 per kg. Copper Heavy, Copper Utensil all moved up by 0.21 % and 0.46 % to Rs 47500 and Rs 43900 per100 Kilograms yesterday.

Brass Utensil and Brass Sheet Cutting also inched up by 0.32% and 0.31% to 31500 and 32800 per100 Kilograms.

However,  Gun Metal Scrap jalandhar, Gun Metal Scrap Local, Gun Metal Scrap Mix prices remain same at Rs 344, Rs 337, Rs 339 per kg for last 6 days.

Category : Metal

Tags : base metals, base metals prices


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