Tin slab, copper

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Mumbai, May 23 (UNI) Prices of Tin slab, nickel cathode and copper heavy in ferrous and non ferrous metals today declined on sustained offers by stockists, induced by bearish advice from London Metal Exchange (LME), Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange (BME) said.

In the ferrous metal category, copper heavy, copper utensils, brass utensils and brass cuttings eased between Rs 200 and Rs 400 per quintal on thin industrial users demand. Sellers were eager to sell their stocks in view of discouraging advice from LME, Kolkata, Delhi and other centres. Aluminium was unchanged on moderate demand.

In the non-ferrous metal category, copper wire bars and zinc slab also dropped by Rs 200 and Rs 300 per quintal respectively on sustained heavy selling pressure by stock-holders. Similarly, Nickel cathode and tin slabs major were down by Rs 50 and Rs eight per kg respectively owing to weaker advice from LME and domestic centres, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 37,100, copper utensils - Rs 33,000, brass utensils - Rs 25,200, brass cuttings - Rs 26,300 and aluminium utensils - Rs 11,300.

Non-ferrous metals: copper wire bars - Rs 40,600, aluminium ingots - Rs 14,900, zinc slab - Rs 11,500, lead ingots - Rs 12,000, tin slab - Rs 1,175 per kg and nickel cathode - Rs 1,250 per kg.

UNI AR OBB AG1655

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