Metals rise on renewed buying support

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Mumbai, June 30 (UNI) Ferrous and non-ferrous metals today witnessed an upward trend on renewed buying support by stockists and strong advice from markets in Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange said.

In ferrous metal category, Copper heavy and brass utensils advanced by Rs 100 per quintal each and finished at Rs 38,600 and Rs 25,400 per quintal respectively on reduced stock supply by stockists. Brass cuttings and aluminium utensils also soared by Rs 100 per quintal each on heavy demand by upcountry demand.

Copper utensils remained steady on moderate demand, traders said.

In the non-ferrous metal category, the prices of copper wire bars and zinc slab shot up by Rs 100 per quintal each and closed at Rs 41,900 and Rs 10,300 per quintal respectively.

Tin slab and nickel cathode also strengthened by Rs 5 Rs 10 per kg respectively on better buying support.

Aluminium ingot and lead ingot remained flat on scattered buying by bulk consumers and closed at Rs 1,170 and Rs 1,180 per kg respectively, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 38,600, copper utensils - Rs 34,600, brass utensils - Rs 25,400, brass cuttings - Rs 27,000 and aluminium utensils - Rs 11,400.

Non-ferrous metals: copper wire bars - Rs 41,900, aluminium ingots - Rs 14,800, zinc slab - Rs 10,300, lead ingots - Rs 10,500, tin slab - Rs 1,170 per kg and nickel cathode - Rs 1,180 per kg.


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