Tin slab, nickel cathode, zinc slab dip

Mumbai, May 31 (UNI) Tin slab, nickel cathode, zinc slab and lead ingots suffered a setback today on sustained heavy selling pressure by stockists and weak advice from London Metal Exchange (LME), Kolkata, Delhi and southern regions, traders at the Bombay Metal Exchange (BME) said here today.

In the ferrous metal category (per quintal), brass utensils, brass cuttings and aluminium utensils gained by Rs 100, Rs 300 and Rs 200 respectively on better buying support from local dealers and lesser stocks supply from Delhi, Indore, Kolkata and other centres.

In the non-ferrous metal category (per quintal), copper wire bars gained by Rs 500 on scattered industrial users demand. Zinc slab and lead ingots declined by Rs 200 each on poor demand from big industrial users and bearish advice from London Metal Exchange (LME), Kolkata, Delhi and southern regions.

Nickel cathode and tin slab also crashed by Rs 15 and Rs ten per kg respectively on renewed heavy offers from stockists and bearish advice from London Metal Exchange, Kolkata, Delhi, Indore and southern regions, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,800, copper utensils - Rs 33,000, brass utensils - Rs 25,100, brass cuttings - Rs 26,500 and aluminium utensils - Rs 11,500.

Non-ferrous metals: copper wire bars - Rs 40,600, aluminium ingots - Rs 14,800, zinc slab - Rs 11,900, lead ingots - Rs 11,300, tin slab - Rs 1,180 per kg and nickel cathode - Rs 1,180 per kg.

UNI AR MAZ AG1630