Ferrous metals recover on fresh demand from stockists

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Mumbai, Sep 17 (UNI) Ferrous metals recovered today on fresh demand from stockists, traders at the Bombay Metal Exchange (BME) said.

In the ferrous metal category, copper heavy and copper utensils rose by Rs 100 and Rs 200 per quintal respectively, on good demand from bulk consumers. Finally, copper heavy and copper utensils closed at Rs 36,500 and Rs 34,200 per quintal respectively.

Brass cuttings today recovered yesterday's decline of Rs 300 and rested at Rs 26,300 per quintal on brisk buying support by stockists.

Other metals, including brass utensils and aluminium utensils remained unaltered on scattered buying support from stockists, traders said.

In non-ferrous metals, copper wire bars and lead ingot surged by Rs 100 per quintal each to close at Rs 39,700 and Rs 10,700 per quintal respectively, following sustained demand by stockists.

However, tin slab fell by Rs 27 per kg on persistent offloading by stock holders.

Other metals like aluminium ingot and zinc slab remained flat to end at Rs 13,400 and Rs 10,300 per quintal respectively, on moderate demand by bulk consumers.

After yesterday's decline of Rs 20, nickel cathode also remained steady and closed at Rs 1,020 per kg, traders added.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,500, copper utensils - Rs 34,200, brass utensils - Rs 25,200, brass cuttings - Rs 26,300 and aluminium utensils - Rs 10,900.

Non-ferrous metals: copper wire bars - Rs 39,700, aluminium ingots- Rs 13,400, zinc slab - Rs 10,300, lead ingots - Rs 10,700, tin slab - Rs 1,093 per kg and nickel cathode - Rs 1,020 per kg.

UNI NV RN AG1742

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