Non-ferrous metals decline on lack of fresh demand

Mumbai, Apr 30 (UNI) Non-ferrous metals edged down today on lack of fresh demand from Kolkata, Delhi and Indore and bearish advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said.

A downward trend was seen in the non-ferrous metal categories Except aluminium ingot and lead ingot, all other metals eased.

Zinc slab and copper wire bars slipped by Rs 300 and Rs 100 per quintal respectively.

Tin slab and nickel cathode also inched down by Rs 5 and Rs 15 per kg because of sluggish demand by stockists.

In ferrous metal category, brass cutting and aluminium utensils slid by Rs 100 per quintal each on sustained heavy selling pressure by local dealers, induced by bearish advice from London Metal Exchange (LME).

Copper utensils and brass utensils rose by Rs 300 and Rs 100 per quintal respectively on renewed buying support by stockists.

However, aluminium ingot and lead ingot remained unchanged on moderate demand, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,800, copper utensils - Rs 33,100, brass utensils - Rs 25,400, brass cuttings - Rs 26,300 and aluminium utensils - Rs 11,100.

Non-ferrous metals: copper wire bars - Rs 40,200, aluminium ingots - Rs 14,400, zinc slab - Rs 11,500, lead ingots - Rs 12,700, tin slab - Rs 1,055 per kg and nickel cathode - Rs 1,360 per kg.

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