Mumbai, June 2 (UNI) Prices of nickel cathode, zinc slab, copper wire bars and lead ingots today drifted lower on heavy selling pressure by stockists on bearish advice from London Metal Exchange (LME), Kolkata, Delhi and southern regions, traders at the Bombay Metal Exchange (BME) said here.
In the ferrous metal category (per quintal), brass utensils, brass cuttings and aluminium utensils eased by Rs 100 each on selling pressure by stockists and larger stocks supply from Delhi, Indore, Kolkata and other centres.
In the non-ferrous metal category (per quintal), copper wire bars dropped by Rs 200 while zinc slab and lead ingots also eased by Rs 100 each on poor industrial users demand, while Nickel cathode also crashed by Rs 15 per kg 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 36,900, copper utensils - Rs 33,000, brass utensils - Rs 25,000, brass cuttings - Rs 26,400 and aluminium utensils - Rs 11,500.
Non-ferrous metals: copper wire bars - Rs 40,400, aluminium ingots - Rs 14,800, zinc slab - Rs 11,800, lead ingots - Rs 11,200, tin slab - Rs 1,180 per kg and nickel cathode - Rs 1,165 per kg.
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