Mumbai, Nov 16 (UNI) Prices of key metals like copper heavy, copper wire bars, brass scrap and nickel cathode today declined on sustained selling pressure by stock-holders due to bearish advice from London Metal Exchange (LME) along with Kolkata, Delhi and other centres today, traders at the Bombay Metal Exchange (BME) said.
However, tin slab price looked up on scattered buying support from industrial users.
In the ferrous category (per quintal), Copper heavy, copper utensils, brass utensils and brass cuttings were down by Rs 500, Rs 500, Rs 200 and Rs 500 respectively on lack of fresh industrial users demand, due to larger arrivals of stocks from Kolkata, Delhi and other centres.
In the non-ferrous segment (per quintal), Copper wire bars crashed by Rs 400 on sustained heavy selling pressure by stockists induced by subdued advice from LME along with Kolkata, Delhi and other centres.
Similarly, nickel cathode also dropped by Rs 35 and touched a low at Rs 1490 per kg each on poor buying support from dealers due to weaker advice from LME.
However, tin slab price looked up by Rs eight to Rs 810 per kg on fresh industrial users demand in the face of lesser ready stocks.
Following are the spot metal prices per quintal: Ferrous metals - Copper heavy: Rs 34,000, Copper utensils: Rs 31,000, Brass utensils: Rs 24,500, Brass cuttings: Rs 25,500 and Aluminium utensils: Rs 10,800.
Non-ferrous metals - Copper wire bars: Rs 37,400, Aluminium ingots: Rs 12,500, Zinc slab: Rs 14,500, Lead ingots: Rs 13,500, Tin slab: Rs 810 per kg and Nickel cathode: Rs 1,490 per kg.