Key Metal prices drop on weak LME advice

Mumbai, Oct 22 (UNI) Prices of select metals like nickel, copper and zinc in the ferrous and non ferrous metals suffered a setback today on lack of fresh demand in view of bearish advice from London Metal Exchange (LME) and 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 utensils and its cuttings eased by Rs 100 each due to thin industrial users demand.

In the non-ferrous segment (per quintal), copper wire bars, aluminium ingots and zinc slab came down by Rs 300, Rs 100 and Rs 200 respectively on thin industrial users demand.

Nickel cathode and tin slab fell also by Rs 20 and Rs five per kg respectively owing to larger stock supply and poor demand.

Following are the spot metal prices per quintal: Ferrous metals - Copper heavy: Rs 35,200, Copper utensils: Rs 32,000, Brass utensils: Rs 25,300, Brass cuttings: Rs 26,700 and Aluminium utensils: Rs 10,700.

Non-ferrous metals - Copper wire bars: Rs 38,200, Aluminium ingots: Rs 12,300, Zinc slab: Rs 16,300, Lead ingots: Rs 13,800, Tin slab: Rs 809 per kg and Nickel cathode: Rs 1,580 per kg.

UNI