Metals decline on low buying support

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Mumbai, Mar 20 (UNI) Both, ferrous and non-ferrous metals heavily declined today on low buying support along with weak advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said.

In the ferrous metal category, copper utensils and copper heavy drifted low by Rs 400 and Rs 500 per quintal respectively.

Aluminium utensils and brass utensils also went down by Rs 500 and Rs 200 per quintal respectively amid sluggish demand from bulk consumers.

However, brass cuttings, jumped up by Rs 300 per quintal, amid physical buying, traders added.

In the non-ferrous metal category, aluminium ingot and copper wire bar fell by Rs 500 and Rs 600 per quintal respectively on persistent offloading by stock holders. Zinc slab and lead ingot also shed by Rs 400 per quintal each, in the absence of demand.

Tin slab and nickel cathode also inched down by Rs 10 and Rs 65 per kg respectively.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 35,800, copper utensils - Rs 32,600, brass utensils - Rs 25,100, brass cuttings - Rs 26,500 and aluminium utensils - Rs 11,100.

Non-ferrous metals: copper wire bars - Rs 39,100, aluminium ingots - Rs 14,500, zinc slab - Rs 13,400, lead ingots - Rs 12,600, tin slab - Rs 910 and nickel cathode - Rs 1,405 per kg.

UNI NV RN VKG1603

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