Metals fall on thin buying support

Subscribe to Oneindia News

Mumbai, Apr 24 (UNI) Ferrous and non-ferrous metal categories fell today on thin buying support and weak global advice from London Metal Exchange (LME) along with Delhi, Kolkata, Indore and other centres, traders at the Bombay Metal Exchange (BME) said.

In the ferrous metal category, brass utensils and brass cuttings declined by Rs 100 per quintal each amid heavy selling pressure.

There was no change in copper heavy, copper utensils and aluminium utensils, traders said.

In the non-ferrous metal category, a negative trend was observed as lead ingot and zinc slab were down by Rs 300 and Rs 200 per quintal respectively due to persistent offloading by stock holders. Copper wire bars and nickel cathode also inched down by Rs 100 per quintal and Rs 5 per kg respectively on poor demand by stockists.

Tin slab moved further by Rs 15 per kg because of good demand from retailers, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,700, copper utensils - Rs 33,100, brass utensils - Rs 25,300, brass cuttings - Rs 26,300 and aluminium utensils - Rs 11,200.

Non-ferrous metals: copper wire bars - Rs 40,200, aluminium ingots - Rs 14,400, zinc slab - Rs 11,900, lead ingots - Rs 12,800, tin slab - Rs 1,065 per kg and nickel cathode - Rs 1,375 per kg.

UNI NV OBB AG1614

Please Wait while comments are loading...