Nickel, copper wire bars, zinc, alunimium & brass rise

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Mumbai, Oct 11 (UNI) Prices of Key metals like nickel cathode, copper wire bars, zinc, aluminium and brass cuttings in ferrous and non ferrous metals recovered smartly today on reduced offers by stockists, induced by bearish advice from London Metal Exchange (LME) along with Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange (BME) said.

In the ferrous category (per quintal), copper heavy and copper utensils shot up by Rs 200 and Rs 100 respectively due to sustained heavy buying support from local dealers. Brass cutting and Brass utensils also gained by Rs 100 and Rs 200 respectively in line with copper prices.

In the non-ferrous segment (per quintal), copper wire bars and lead ingots were up sharply by Rs 400 and Rs 500 respectively on improved demand from industrial users in view of encouraging advice from LME, Kolkata, Delhi and other centres.

Similarly, aluminium ingots and zinc slab too rose beween Rs 100 and Rs 200 an on fresh industrial users demand. Nickel cathode price shot up by Rs 30 per kg on sustained brisk industrial users demand in view of firm advice from Kolkata.

But tin slab eased modestly by Rs five per kg owing to increased stocks arrivals from upcountry centres, traders added.

Following are the spot metal prices per quintal: Ferrous metals - Copper heavy: Rs 35,500, Copper utensils: Rs 32,100, Brass utensils: Rs 25,600, Brass cuttings: Rs 27,000 and Aluminium utensils: Rs 10,700.

Non-ferrous metals - Copper wire bars: Rs 39,000, Aluminium ingots: Rs 12,300, Zinc slab: Rs 16,500, Lead ingots: Rs 13,100, Tin slab: Rs 795 per kg and Nickel cathode: Rs 1,580 per kg.


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