Nickel, tin, lead & copper rise on firm LME advice

Mumbai, Sep 19 (UNI) Prices of nickel, tin, copper wire bars, lead, and brass scrap in ferrous and non ferrous metals today ruled bettter on reduced offers from stockists in view of 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 hardened smartly by Rs 100 and Rs 500 respectively on sustained brisk industrial users demand, induced by firm advice from LME along with Kolkata and other centres.

Brass cutting and Aluminium utensils also gained by Rs 50 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 hiked by Rs 500 and Rs 100 respectively, while aluminium ingots and zinc slab gained by Rs 100 and Rs 300 respectively owing to heavy demand by local dealers.

Nickel cathode jumped up sharply by Rs 55 and touched eight weeks high at Rs 1580 per kg mainly on firm advice from LME along with brisk industrial demand. Similarly, tin price gained by Rs ten per kg on improved industrial demand by local dealers.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 35,000, Copper utensils - Rs 32,000, Brass utensils - Rs 25,600, Brass cuttings - Rs 27,100 and Aluminium utensils - Rs 10,700.

Non-ferrous metals: Copper wire bars - Rs 38,500, Aluminium ingots - Rs 12,300, Zinc slab - Rs 15,800, Lead ingots - Rs 11,600, Tin slab - Rs 750 per kg and Nickel cathode - Rs 1,580 per kg UNI