Select metals decline

Mumbai, Aug 25 (UNI) Select metals today declined on heavy selling pressure by stockists, traders at the Bombay Metal Exchange (BME) said.

In ferrous metals, copper heavy and brass cuttings, which were flat last Saturday, eased by Rs 100 per quintal each on lower buying support by industrial users. They ended at Rs 37,000 and Rs 26,500 per quintal respectively.

Copper utensils and brass utensils rallied by Rs 200 per quintal each on lesser stock supply by stockists and finished at Rs 34,400 and Rs 25,200.

However, aluminium utensils remained unchanged on scattered demand by bulk consumers, traders said.

In non-ferrous metals, copper wire bars and lead ingot dropped by Rs 100 and Rs 200 per quintal respectively as traders were keen to sell their stocks.

Finally, copper wire bars and lead ingot closed at Rs 40,300 and Rs 10,600 per quintal.

Tin slab also became cheaper by Rs 10 per kg, on lack of fresh demand and ended at Rs 1,160 per kg.

Other metals including aluminium ingot, zinc slab and nickel cathode remained stable on moderate demand by dealers, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 37,000, copper utensils - Rs 34,400, brass utensils - Rs 25,200, brass cuttings - Rs 26,500 and aluminium utensils - Rs 11,100.

Non-ferrous metals: copper wire bars - Rs 40,300, aluminium ingots- Rs 13,900, zinc slab - Rs 10,300, lead ingots - Rs 10,600, tin slab - Rs 1,160 per kg and nickel cathode - Rs 1,110 per kg.

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