Nickel, tin, copper, aluminium rise on firm LME advice

Mumbai, Oct 29 (UNI) Prices of nickel, tin, copper and aluminium in ferrous and non ferrous metals today advanced on sustained heavy industrial users demand in view of bullish 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 went up by Rs 300 and Rs 400 respectively on lack of offers by stockists, induced by encouraging advice from Kolkata, Delhi and other centres.Brass scrap utensils and brass cuttings also advanced by Rs 100 each in line with copper.

In the non-ferrous segment (per quintal), copper wire bars and zinc slab went up by Rs 100 each on improved industrial users demand in face of lesser arrivals of stocks from upcountry centres.

Similarly, nickel cathode and tin slab also hiked by Rs ten each on brisk industrial users demand and lesser stock supplies.

Following are the spot metal prices per quintal: Ferrous metals - Copper heavy: Rs 35,900, Copper utensils: Rs 32,800, Brass utensils: Rs 25,700, Brass cuttings: Rs 26,900 and Aluminium utensils: Rs 10,700.

Non-ferrous metals - Copper wire bars: Rs 39,200, Aluminium ingots: Rs 12,400, Zinc slab: Rs 16,300, Lead ingots: Rs 14,000, Tin slab: Rs 800 per kg and Nickel cathode: Rs 1,560 per kg.

UNI