Key metal prices ease on weak global advice

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Mumbai, Dec 13 (UNI) The select metal prices such as nickel, copper heavy, copper utensils, brass cuttings and copper wire bars of ferrous and non-ferrous categories drifted lower again due to sustained heavy selling pressure by stockists, induced by bearish advice from London Metal Exchange (LMR), Kolkata, Delhi, Indore and southern regions, traders at the Bombay Metal Exchange (BME) said.

In the ferrous category (per quintal), copper heavy, copper utensils, brass utensils and brass cuttings edged lower by Rs 100 each on lack of demand from industrial users in view of discouraging advice from LME along with Kolkata and other centres.

However, aluminium utensils remained steady on moderate demand.

In the non-ferrous category (per quintal), copper wire bar and lead ingots also declined by Rs 100 each on thin buying support.

Similarly, nickel cathode declined by Rs 15 per kg in line with copper prices.

Tin slab remained flat on moderate demand.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 33,300, Copper utensils - Rs 31,200, Brass utensils - Rs 23,900, Brass cuttings - Rs 24,600 and Aluminium utensils - Rs 10,600.

Non-ferrous metals: Copper wire bars - Rs 36,700, Aluminium ingots - Rs 12,300, Zinc slab - Rs 13,000, Lead ingots - Rs 11,800, Tin slab - Rs 790 per kg and Nickel cathode - Rs 1,325 per kg.


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