Key metals slip on weaker advice from LME

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Mumbai, Oct 16 (UNI) Prices of select ferrous and non ferrous metals drifted lower today on thin industrial demand due to weaker advice from London Metal Exchange along with Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange (BME) said.

In the ferrous category (per quintal), copper heavy, copper utensils and brass scrap declined by Rs 200, Rs 200 and Rs 100 on higher offers by stockists in view of bearish advice from global and upcountry markets.

In the non-ferrous segment (per quintal), copper wire bars and lead ingot also rose by Rs 100 and Rs 200 respectively on poor demand from industrial users, while aluminium ingot and zinc slab prices were down by Rs 100 and Rs 50 respectively on better offers by stockists due to bearish advice from LME along with Kolkata, Delhi and southern centres.

Tin slab and nickel cathode remained unchanged on moderate buying support from local dealers.

Following are the spot metal prices per quintal: Ferrous metals - Copper heavy: Rs 35,800, Copper utensils: Rs 32,300, Brass utensils: Rs 25,500, Brass cuttings: Rs 27,000 and Aluminium utensils: Rs 10,800.

Non-ferrous metals - Copper wire bars: Rs 39,200, Aluminium ingots: Rs 12,350, Zinc slab: Rs 16,800, Lead ingots: Rs 13,600, Tin slab: Rs 810 per kg and Nickel cathode: Rs 1,625 per kg.


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