Metals rise on increase in fresh demand

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Mumbai, Feb 23 (UNI) Both ferrous and non-ferrous metal categories rose today due to increase in fresh demand from local dealers, traders at the Bombay Metal Exchange (BME) said.

In the ferrous metal category, copper utensils went up by Rs 200 per quintal amid better buying support.

Copper heavy and brass utensils also showed an upward trend and shot up by Rs 100 per quintal. However, aluminium utensils remained flat because of moderate demand.

In the non-ferrous metal category, zinc slab advanced by Rs 200 and copper wire bars and aluminium ingot inched up by Rs 100 per quintal each due to reduced stock supply, traders added.

Tin slab improved by Rs 3 while Nickel cathode fell by Rs 10 per kg amid thin buying support.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 35,900, copper utensils - Rs 32,700, brass utensils - Rs 25,000, brass cuttings - Rs 25,700 and aluminium utensils - Rs 11,100 per kg.

Non-ferrous metals: copper wire bars - Rs 39,300, aluminium ingots - Rs 13,200, zinc slab - Rs 13,000, lead ingots - Rs 13,500, tin slab - Rs 795 and nickel cathode - Rs 1,405 per kg.

UNI NV NM AG1601

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