Ferrous and non-ferrous metals fall

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Mumbai, Aug 9 (UNI) A downward trend was observed in ferrous and non-ferrous metals today on sustained heavy selling by industrial users, traders at the Bombay Metal Exchange said.

In ferrous metal category, copper heavy and copper utensils slid by Rs 400 per quintal each on persistent offloading by stock holders.

After easing by Rs 400, both copper heavy and copper utensils ended at Rs 36,400 and Rs 34,000 per quintal respectively. Brass cuttings and aluminium utensils also edged down by Rs 200 per quitnal each on lower buying support and finished at Rs 26,100 and Rs 11,100 per quintal respectively.

Brass utensils, which was steady yesterday, shed Rs 100 per quintal on sluggish demand, traders said.

In non-ferrous metal category, copper wire bars and aluminium ingot slashed by Rs 300 per quintal each, as traders were keen to sell their stocks. Copper wire bars and aluminium ingot closed at Rs 39,600 and Rs 14,200 per quintal respectively.

Even tin slab nickel cathode became cheaper by Rs 45 and Rs 15 per kg respectively.

However, lead ingot remained unchanged for the second consecutive day today, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,400, copper utensils - Rs 34,000, brass utensils - Rs 25,000, brass cuttings - Rs 26,100 and aluminium utensils - Rs 11,100.

Non-ferrous metals: copper wire bars - Rs 39,600, aluminium ingots- Rs 14,200, zinc slab - Rs 10,500, lead ingots - Rs 10,800, tin slab - Rs 1,055 per kg and nickel cathode - Rs 990 per kg.

UNI NV-GS SSS SKB1644

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