Metals rise on brisk buying support by stockists

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Mumbai, Aug 22 (UNI) Maintaining the upward march, ferrous and mon-ferrous metals surged today on brisk buying support by stockists, traders at the Bombay Metal Exchange said.

In ferrous metals, copper heavy and brass utensils rallied by Rs 300 and Rs 200 per quintal respectively, on renewed buying support by local dealers.

Copper heavy and brass utensils, after gaining by Rs 300 and Rs 200 per quintal respectively, ended at Rs 37,100 and Rs 25,400 per quintal respectively.

Copper utensils also shot up by Rs 100 per quintal amid lesser stock supply by stockists and closed at Rs 34,300 per quintal.

However, brass cuttings and aluminium utensils remained unaltered on scattered buying by stockists, traders said.

In non-ferrous metals, copper wire and zinc slab also moved up by Rs 200 and Rs 100 per quintal respectively owing to speculative buying by stockists in view of strong global advice from London Metal Exchange (LME) and ended at Rs 40,400 and Rs 10,300 per quintal respectively.

Tin slab and nickel cathode, firming up by Rs 50 each, finally closed at Rs 1,185 and Rs 1,110 per kg respectively on good demand by dealers, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 37,100, copper utensils - Rs 34,300, brass utensils - Rs 25,400, brass cuttings - Rs 26,600 and aluminium utensils - Rs 11,100.

Non-ferrous metals: copper wire bars - Rs 40,400, aluminium ingots- Rs 14,000, zinc slab - Rs 10,300, lead ingots - Rs 10,800, tin slab - Rs 1,185 per kg and nickel cathode - Rs 1,110 per kg.


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