Copper wire bars, nickel

Mumbai, May 28 (UNI) Price of non-ferrous metals like copper wire bars, zinc slab and nickel cathode drifted lower on poor industrial users demand coupled with weak advice from global markets, traders at the Bombay Metal Exchange (BME) said here today.

In the ferrous metal category (per quintal), Copper heavy and copper utensils, brass utensils, brass cuttings and aluminium utensils remained unchanged on moderate demand from local dealers in view of sufficient stocks supply from Delhi, Indore, Kolkata and other centres.

In the non-ferrous metal category (per quintal), copper wire bars eased by Rs 100 on sluggish demand from big industrial users, induced by bearish advice from London Metal Exchange (LME) along with Kolkataka, Delhi and southern regions. Similarly, Zinc slab, nickel cathode prices also declined by Rs 100, Rs 100 and Rs ten per kg on sustained heavy offers by stockists induced by bearish advice from London Metal Exchange along with Kolkata, Delhi, Indore and southern regions, traders said. The other prices like aluminium igots, lead ingots and tin slab remained unchanged on moderate buying support from local dealers, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 37,400, copper utensils - Rs 33,300, brass utensils - Rs 25,300, brass cuttings - Rs 26,500 and aluminium utensils - Rs 11,400.

Non-ferrous metals: copper wire bars - Rs 40,800, aluminium ingots - Rs 14,900, zinc slab - Rs 11,400, lead ingots - Rs 11,500, tin slab - Rs 1,180 per kg and nickel cathode - Rs 1,240per kg.

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