Ferrous and non-ferrous metals down

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Mumbai, Aug 11 (UNI) A downward trend was seen in ferrous and non-ferrous metals today on lack of fresh demand by stockists, traders at the Bombay Metal Exchange said.

In ferrous metals category, copper heavy and brass cuttings were down by Rs 400 and Rs 300 per quintal respectively due to sluggish demand by industrial users. After declining by Rs 400, copper heavy ended at Rs 36,000 per quintal.

Aluminium utensils also slipped by Rs 100 to close at Rs 11,000 due to sustained heavy selling pressure by stockists.

However, brass utensils remained unchanged on moderate demand and closed at Rs 25,000, traders said.

In non-ferrous metals category, zinc slab and copper wire bars dipped by Rs 500 and Rs 300 per quintal respectively as traders were keen to sell their stocks.

Zinc slab and copper wire bars, which were down by Rs 500 and Rs 300 per quintal respectively, finally ended at Rs 10,000 and 39,300 per quintal respectively on discouraging advice from dealers.

Tin slab fell by Rs 25 per kg while nickel cathode was up by Rs 5 per kg on improved demand, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,000, copper utensils - Rs 34,200, brass utensils - Rs 25,000, brass cuttings - Rs 25,800 and aluminium utensils - Rs 11,000.

Non-ferrous metals: copper wire bars - Rs 39,300, aluminium ingots- Rs 14,200, zinc slab - Rs 10,000, lead ingots - Rs 10,800, tin slab - Rs 1,030 per kg and nickel cathode - Rs 995 per kg.

UNI NV OBB AG1630

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