Metal prices fall on sluggish industrial demand

Mumbai, Mar 9 (UNI) Metal prices drifted lower on sluggish industrial demand, traders at the metal exchange said today.

In ferrous section: copper utensils and brass utensils declined Rs 200 each while aluminium utensils fell by Rs 50 per quintal as traders were keen to sell their stocks. But copper heavy rose by Rs 200 per quintal on increase of fresh demand.

In non-ferrous section: aluminium ingots and zinc slab eased by Rs 100 and Rs 50 per quintal on sustain heavy selling pressure.

Tin slab went up by Re one per kg on better buying support while that of nickel cathode came down by Rs three per kg on lesser stock supply.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy 25,400, copper utensils-Rs 23,200, brass utensils-Rs 18,200, brass cuttings-Rs 19,300 aluminium utensils-Rs 9,950.

Non-ferrous metals: copper wire bars-Rs 27,700, aluminium ingots-Rs 12,600, zinc slab-Rs 12,550, lead ingots-Rs 6,300, Tin slab-Rs 402 (per kg) and nickel cathode-Rs 765 (per kg).

UNI VD KD AW1555