Ferrous metal prices rise on higher industrial demand

Mumbai, Mar 15 (UNI) Select Ferrous and non ferrous metal prices today ruled better on higher industrial demand along with firm advice from London Metal Exchange (LME), traders at the metal exchange here said.

In ferrous section the prices of brass utensils and brass cuttings hiked by Rs 100 each per quintal as sellers were hoarding their stocks in view of bullish advice from LME. There was fresh industrial demand from local and upcountry centres.

In non-ferrous section zinc slab and copper wire bars also increased by Rs 100 per quintal each on reduced stock supply.

But tin slab rates came down by Re one per kg on thin buying support.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy- 25,700, copper utensils-Rs 23,500, brass utensils- Rs 18,500, brass cuttings- Rs 19,600 and aluminium utensils- Rs 9,900.

Non-ferrous metals: copper wire bars- Rs 27,900, aluminium ingots- Rs 12,600, zinc slab- Rs 12,700, lead ingots- Rs 6,300, Tin slab- Rs 406 (per kg) and nickel cathode- Rs 765 (per kg).

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