Metal prices up on good demand by stockists

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Mumbai, Aug 20 (UNI) Both ferrous and non-ferrous metal prices moved up on good demand by stockists in view of encouraging advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange said.

In ferrous metals category, copper heavy advanced by Rs 600 per quintal while copper utensils and brass cuttings also edged up by Rs 500 per quintal each on brisk buying support by bulk consumers on strong global advice.

Copper heavy, with a gain of Rs 600, finally ended at Rs 36,600 per quintal. Copper utensils and brass cuttings ended at Rs 34,000 and Rs 26,500 per quintal respectively.

Brass utensils, which were steady yesterday, improved by Rs 100 per quintal today on lesser stock supply by industrial users and closed at Rs 25,100.

In non-ferrous metals, an upward trend was seen as copper wire bars and lead ingot shot up by Rs 600 and Rs 200 per quintal respectively and finished at Rs 39,900 and Rs 10,700 per quintal on better buying support by dealers.

Tin slab and nickel cathode also soared by Rs 15 per kg each on renewed buying by bulk consumers, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,600, copper utensils - Rs 34,000, brass utensils - Rs 25,100, brass cuttings - Rs 26,500 and aluminium utensils - Rs 11,100.

Non-ferrous metals: copper wire bars - Rs 39,900, aluminium ingots- Rs 14,000, zinc slab - Rs 10,000, lead ingots - Rs 10,700, tin slab - Rs 1,085 per kg and nickel cathode - Rs 1,045 per kg.

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