Metals up on physical buying

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Mumbai, Mar 13 (UNI) Ferrous and non-ferrous metals moved up today on physical buying along with strong advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said here.

In the ferrous metal category, Copper heavy and Copper utensils rallied by Rs 300 and Rs 200 per quintal respectively, amid better buying support. Brass cuttings also improved by Rs 100, per quintal.

However, Brass utensils and Aluminium utensils remained flat.

In the non-ferrous metal category also upward trend was seen in Copper wire bar, Zinc slab, Tin slab and Nickel cathode while Lead ingot dipped because of lower buying support, traders added.

Copper wire bar and Zinc slab inched up by Rs 200 and Rs 100 per quintal respectively, due to good demand from retailers.

Tin slab and Nickel cathode also soared by Rs 14 and Rs 15 per kg, amid reduced stock supply, traders added.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 36,300, Copper utensils - Rs 33,000, Brass utensils - Rs 25,200, Brass cuttings - Rs 26,300 and Aluminium utensils - Rs 11,700.

Non-ferrous metals: Copper wire bars - Rs 39,600, Aluminium ingots - Rs 15,000, Zinc slab - Rs 13,800, lead ingots - Rs 12,800, Tin slab - Rs 879 and Nickel cathode - Rs 1,490 per kg.


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