Mumbai, Feb 18 (UNI) Select ferrous and non ferrous metals rallied today mainly on strong advice from London Metal Exchange (LME) along with heavy speculative demand from local dealers, traders at the Bombay Metal Exchange (BME) said.
In ferrous metal group, Copper heavy and copper utensils shot up by Rs 100 per quintal each, due to increase in fresh demand. Brass utensils and aluminium utensils also rose by Rs 150 per quintal each amid heavy demand from retailers, traders said.
In Non-ferrous metal category, aluminium ingot and zinc slab too jumped by Rs 100 and Rs 200 per quintal respectively on renewed buying support from industrial users in view of firm advice from LME, along with Kolkata, Delhi and other centres.
Nickel cathode, however, came down by Rs five on poor demand by local dealers in view of large stocks arrivals, traders added.
Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 34,500, copper utensils - Rs 31,600, brass utensils - Rs 24,900, brass cuttings - Rs 25,300 and aluminium utensils - Rs 11,000 per kg.
Non-ferrous metals: copper wire bars - Rs 37,800, aluminium ingots - Rs 13,100, zinc slab - Rs 12,800, lead ingots - Rs 13,000, tin slab - Rs 785 and nickel cathode - Rs 1,395 per kg.
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