Metals ease on lack of fresh demand

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Mumbai, Mar 21 (UNI) Both ferrous and non-ferrous metals eased today on lack of fresh demand and bearish advice from the London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said.

In the ferrous metal category, copper heavy, brass utensils and brass cuttings declined today.

Brass cuttings fell by Rs 600 per quintal while copper heavy and brass utensils dropped by Rs 200 per quintal respectively on sustained heavy selling pressure.

But, copper utensils rose by Rs 100 per quintal. Aluminium utensils remained unchanged on moderate demand.

In the non-ferrous metal category, aluminium ingot and zinc slab inched down while copper wire bars remained flat.

Aluminium ingot and zinc slab dropped by Rs 400 per quintal respectively on persistent offloading by stock holders. Tin slab improved by Rs 5 per kg on physical buying.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 35,600, copper utensils - Rs 32,700, brass utensils - Rs 24,900, brass cuttings - Rs 25,900 and aluminium utensils - Rs 11,100.

Non-ferrous metals: copper wire bars - Rs 39,100, aluminium ingots - Rs 14,100, zinc slab - Rs 13,000, lead ingots - Rs 12,800, tin slab - Rs 915 and nickel cathode - Rs 1,405 per kg.

Trading in the metal market will remain officially closed tomorrow on account of holi, traders said.

UNI NV MAZ SM1647

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