Metals up on physical buying by stockists

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Mumbai, May 17 (UNI) An upward trend was witnessed in both, ferrous and non-ferrous metals today, on good demand from industrial users, along with strong advice from Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange (BME) said.

In ferrous metal category, copper heavy increased by Rs 200 per quintal, copper utensils and aluminium utensils also shot up by Rs 100 per quintal, amid renewed buying support.

Brass cutting went down by Rs 200 per quintal, due to lack of demand from small industries. However, brass utensils remained steady on moderate demand by stockists.

In non-ferrous metal category, same trend was seen as aluminium ingot rose by Rs 300 per quintal. Copper wire bars and zinc slab advanced by Rs 100 per quintal each, on reduced stock supply by stockists.

Tin slab and nickel cathode fell by Rs 15 per kg each, on sluggish demand by small industries, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 37,000, copper utensils - Rs 33,200, brass utensils - Rs 25,200, brass cuttings - Rs 26,400 and aluminium utensils - Rs 11,200.

Non-ferrous metals: copper wire bars - Rs 40,500, aluminium ingots - Rs 14,500, zinc slab - Rs 11,800, lead ingots - Rs 12,000, tin slab - Rs 1,190 per kg and nickel cathode - Rs 1,315 per kg.


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