Brass utensils recover, brass cuttings decline

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Mumbai, July 26 (UNI) In ferrous metal category, brass utensils today recovered by Rs 100 per quintal on renewed buying support by stockists, but brass cuttings further declined by Rs 200 per quintal, on lack of demand by industrial users, traders at the Bombay Metal Exchange said.

After yesterday's fall, brass utensils recovered by Rs 100 today to close at Rs 25,100, on renewed buying support by stockists.

However, a downward trend was seen in brass cuttings for the second consecutive day today, as it slashed by Rs 200 and finished at Rs 26,500 per quintal. Within two days it slipped by Rs 400.

Meanwhile, copper heavy, copper utensils and aluminium utensils remained flat, on scattered buying by stockists, traders said.

In non-ferrous metals category, except tin slab and nickel cathode, all metals remained unchanged today.

Tin slab and nickel cathode fell by Rs 10 per kg each and finished at Rs 1,150 and Rs 1,050 per kg, as traders were keen to sell their stocks.

Other main metals like copper wire bars, aluminium ingot and zinc slab, which had heavily declined yesterday, remained steady today because of moderate demand by industrial users, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 37,700, copper utensils - Rs 35,100, brass utensils - Rs 25,100, brass cuttings - Rs 26,500 and aluminium utensils - Rs 11,300.

Non-ferrous metals: copper wire bars - Rs 41,000, aluminium ingots- Rs 14,500, zinc slab - Rs 10,700, lead ingots - Rs 11,000, tin slab - Rs 1,150 per kg and nickel cathode - Rs 1,050 per kg.

UNI NV SR NP1650

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