Ferrous metals decline

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Mumbai, Dec 5 (UNI) Prices of copper heavy, Brass utensils and Brass cutting in ferrous metal categories today eased on lack of industrial users' demand due to bearish advice from London Metal Exchange (LMR) alang with Kolkata, Delhi, Indore and southern regions, traders at the Bombay Metal Exchange (BME) said.

In the ferrous category, (per quintal) copper heavy slashed by Rs 200 and Brass utensils and Brass cutting also edged down by Rs 100 each due to thin buying support, by local industrial users induced by discouraging advice from LME and upcountry centres.

Copper utensils and Aluminium utensils remained flat owing to moderate demand.

In the non-ferrous category, (per quintal), copper wire bars fell by Rs 200 on sustained heavy selling pressure by stock holders.

Aluminium ingot, zinc slab and Lead ingot remained steady, on moderate demand.

Tin slab remained steady on moderate demand and Nickel cathode fell by Rs 40 per kg because of thin buying support.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 33,700, Copper utensils - Rs 31,400, Brass utensils - Rs 24,300, Brass cuttings - Rs 25,200 and Aluminium utensils - Rs 10,600.

Non-ferrous metals: Copper wire bars - Rs 36,900, Aluminium ingots - Rs 12,300, Zinc slab - Rs 13,500, Lead ingots - Rs 12,500, Tin slab - Rs 800 per kg and Nickel cathode - Rs 1,320 per kg.


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