copper, brass, zinc, lead dips on weaker LME advice

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Mumbai, Nov 2 (UNI) Prices of lead ingots, zinc slab, brass cuttings and copper heavy today declined on heavy offers from stockists 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 and copper utensils crashed by Rs 500 and Rs 300 respectively on lack of fresh industrial users demand, induced by discouraging advice from Kolkata, Delhi and other centres. Similarly, brass scrap utensils and brass cuttings also eased by Rs 100 each in line with copper.

In the non-ferrous segment (per quintal), copper wire bars,tin ingots and zinc slab too declined by Rs 700, Rs 200 and Rs 200 respectively on thin industrial users demand in face of larger arrivals of stocks from upcountry centres.

However, nickel cathode and tin slab prices remained unchanged on moderate demand from local dealers.

Following are the spot metal prices per quintal: Ferrous metals - Copper heavy: Rs 35,000, Copper utensils: Rs 31,800, Brass utensils: Rs 25,200, Brass cuttings: Rs 26,300 and Aluminium utensils: Rs 10,600.

Non-ferrous metals - Copper wire bars: Rs 38,100, Aluminium ingots: Rs 12,300, Zinc slab: Rs 15,800, Lead ingots: Rs 13,300, Tin slab: Rs 800 per kg and Nickel cathode: Rs 1,550 per kg.

UNI

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