Metals recover on fresh buying support

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Mumbai, Apr 10 (UNI) Both the ferrous and non-ferrous metals recovered today on fresh buying support along with bullish advice from the London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said.

In ferrous metal category, copper heavy advanced by Rs 600 per quintal on higher demand from retailers. Copper utensils, brass utensils and brass cuttings also jumped by Rs 100 per quintal each amid speculative buying. However, aluminium utensils remained unchanged.

In ferrous metal category, barring aluminium utensils all other metals rose. Copper wire bar and lead ingot shot up by Rs 300 and Rs 100 per quintal respectively due to reduced stock supply. Tin slab and nickel cathode also soared by Rs 10 and Rs 15 per kg respectively on physical buying.

However, aluminium ingot and zinc slab remained flat on moderate demand, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 37,300, copper utensils - Rs 32,900, brass utensils - Rs 25,400, brass cuttings - Rs 26,400 and aluminium utensils - Rs 11,000.

Non-ferrous metals: copper wire bars - Rs 40,400, aluminium ingots - Rs 14,000, zinc slab - Rs 12,500, lead ingots - Rs 13,100, tin slab - Rs 925 and nickel cathode - Rs 1,380 per kg.

UNI NV NM VKG1610

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