Metal prices rise on higher industrial demand

Mumbai, Mar 18 (UNI) Metal prices rose on higher industrial demand, along with firm advice from London Metal Exchange (LME), traders at the metal exchange here said today.

In ferrous section, the prices of copper utensils and copper heavy shot up by Rs 400 and Rs 300 per quintal respectively, while that of brass utensils and brass cuttings hiked by Rs 200 each per quintal as sellers were hoarding their stocks.

In non-ferrous section, the rates of copper wire bars, aluminium ingots and zinc slabs increased by Rs 200 each per quintal on lesser stock supply.

Similarly, nickel cathode rates too, went up by Rs two per kg on better buying support by local dealers.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy- 26,100, copper utensils-Rs 24,000, brass utensils- Rs 18,700, brass cuttings- Rs 19,800 and aluminium utensils- Rs 9,900.

Non-ferrous metals: copper wire bars- Rs 28,200, aluminium ingots- Rs 12,800, zinc slab- Rs 12,900, lead ingots- Rs 6,300, Tin slab- Rs 406 (per kg) and nickel cathode- Rs 772 (per kg).

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