Nickel, tin dip; copper, aluminium rise

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Mumbai, Oct 24 (UNI) A mixed trend was witnessed in select ferrous and non ferrous metal prices with nickel and tin slab declining on weaker advice from London Metal Exchange (LME) while copper and aluminium prices rising on fresh industrial users demand, traders at the Bombay Metal Exchange (BME) said.

In the ferrous category (per quintal), copper heavy, copper utensils and brass utensils and its cuttings hiked again by Rs 100 each due to increased industrial users demand.

In the non-ferrous segment (per quintal), copper wire bars, aluminium ingots and zinc slab increased by Rs 100, Rs 200 and Rs 150 respectively on lack of offers from stockists induced by firm advice from LME along with Kolkata, Delhi and other centres.

However, nickel cathode and tin slab declined by Rs 20 and Rs five per kg respectively owing to larger stock supplies 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 25,500, Brass cuttings: Rs 26,800 and Aluminium utensils: Rs 10,700.

Non-ferrous metals - Copper wire bars: Rs 38,600, Aluminium ingots: Rs 12,400, Zinc slab: Rs 16,500, Lead ingots: Rs 14,000, Tin slab: Rs 790 per kg and Nickel cathode: Rs 1,550 per kg.


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