Ferrous metals decline on lower buying support

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Mumbai, Apr 29 (UNI) Ferrous metals declined today on lower buying support from Kolkata, Delhi and Indore and weak advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said.

In the ferrous metal category, key metals like copper utensils, brass utensils and brass cuttings were down by Rs 100 per quintal each on sluggish demand by stockists.

However, copper heavy and aluminium utensils remained steady on moderate demand, traders said.

In the non-ferrous metal category, except lead ingot all other metals remained unchanged on scattered buying.

Lead ingot was down by Rs 100 per quintal on sustained heavy offers by stockists, induced by bearish advice from LME, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,800, copper utensils - Rs 32,800, brass utensils - Rs 25,300, brass cuttings - Rs 26,400 and aluminium utensils - Rs 11,200.

Non-ferrous metals: copper wire bars - Rs 40,300, aluminium ingots - Rs 14,400, zinc slab - Rs 11,800, lead ingots - Rs 12,700, tin slab - Rs 1,060 per kg and nickel cathode - Rs 1,375 per kg.


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