Nickel, lead & brass rise on firm LME advice

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Mumbai, Sep 18 (UNI) Prices of nickel, copper wire bars, lead, and brass scrap in ferrous and non ferrous metals today advanced on lack of offers from stockists and bullish advice from London Metal Exchange (LME), Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange (BME) said today.

In the ferrous category (per quintal), copper heavy and brass utensils were up by Rs 100 each on renewed brisk industrial users demand.

Brass cutting and Aluminium utensils also gained by Rs 150 and Rs 100 respectively due to reduced offers from stockists induced by firm advice from LME along with Kolkata and Delhi centres.

In the non-ferrous segment (per quintal), copper wire bar and lead ingot went up by Rs 100 and Rs 500 respectively, while aluminium ingots and zinc slab gained by Rs 100 each owing to increase in buying support by local dealers.

Nickel cathode shot up by Rs 15 and touched a new high at Rs 1525 per kg in this month due to firm advice from LME along with brisk industrial demand. But tin price eased by Rs ten per kg on thin industrial demand.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 35,000, Copper utensils - Rs 31,500, Brass utensils - Rs 25,600, Brass cuttings - Rs 27,100 and Aluminium utensils - Rs 10,700.

Non-ferrous metals: Copper wire bars - Rs 38,200, Aluminium ingots - Rs 12,300, Zinc slab - Rs 15,500, Lead ingots - Rs 11,500, Tin slab - Rs 740 per kg and Nickel cathode - Rs 1,525 per kg UNI

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