Nickel, tin, copper rally on firm LME advice

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Mumbai, Nov 1 (UNI) Prices of nickel, tin slab and copper today rallied on reduced offers from stockists in view of bullish 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 and copper utensils hardened by Rs 200 and Rs 100 respectively on sustained heavy fresh industrial users demand, induced by encouraging advice from Kolkata, Delhi and other centres. Aluminium utensils, brass scrap utensils and brass cuttings also gained by Rs 100 each in line with copper.

In the non-ferrous segment (per quintal), copper wire bars and zinc slab too rose by Rs 300 and Rs 200 respectively on improved industrial users demand in face of lesser arrivals of stocks from upcountry centres.

Similarly, nickel cathode and tin slab prices also gained by Rs 10 and Rs five per kg respectively on lack of selling pressure by stock-holders and lesser stock supplies along with firm advice from Kolkata and Delhi centres.

Following are the spot metal prices per quintal: Ferrous metals - Copper heavy: Rs 35,500, Copper utensils: Rs 32,100, Brass utensils: Rs 25,400, Brass cuttings: Rs 26,500 and Aluminium utensils: Rs 10,100.

Non-ferrous metals - Copper wire bars: Rs 38,800, Aluminium ingots: Rs 12,300, Zinc slab: Rs 16,000, Lead ingots: Rs 13,500, Tin slab: Rs 800 per kg and Nickel cathode: Rs 1,550 per kg.


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