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Key metal prices witness mixed trend

Written by: Staff
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Mumbai, Mar 1 (UNI) A mixed trend was seen in select metal including nickel cathode and copper, traders at the metal exchange here said.

In ferrous metal group (per quintal), copper heavy and brass scrap utensil prices crashed by Rs 100 each while aluminium utensils declined by Rs 200 on sustained heavy offers by stockists on budget reports of cut in excise duty in copper.

In the non-ferrous metal segment (per quintal), aluminium and zinc slab also declined by Rs 200 and Rs 100 respectively on lack of fresh industrial users demand. Copper wire bars, however, looked up by Rs 100 on strong advice from upcountry and global markets.

Prices of tin slab and nickel cathode prices looked up by Rs five and Re one per kg respectively on fresh industrial users demand following budget proposals to reduce excise duty by five per cent on tin and nickel items, traders added.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy 25,700, copper utensils-Rs 23,500, brass utensils-Rs 18,100, brass cuttings-Rs 19,000 and aluminium utensils-Rs 9,900.

Non-ferrous metals: Copper wire bars-Rs 27,900, aluminium ingots-Rs 12,700, zinc slab-Rs 12,500, lead ingots-Rs 6,200, tin slab-Rs 400 (per kg) and nickel cathode-Rs 769 (per kg).

UNI AR MAZ AG1637

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