Metal prices up on fresh industrial demand

Mumbai, Mar 27 (UNI) Metal prices rose on fresh industrial demand along with higher advice from London Metal Exchange (LME), traders at the metal exchange here today said.

In ferrous section: brass cuttings shot up by Rs 500 per quintal, while that of aluminium utensils and brass utensils hiked by Rs 200 each per quintal and copper heavy by Rs 150 per quintal respectively on reduced stock supply.

In non-ferrous section: zinc slab shot up by Rs 500 per quintal, while that of copper wire bar and aluminium ingots rose by Rs 200 and Rs 100 per quintal respectively as sellers were hoarding their stock.

But tin slab fell by Re one per kg on thin buying support while nickel cathode went up by Rs one per kg on increase of fresh demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy- Rs 26,300, copper utensils- Rs 24,100, brass utensils- Rs 19,000, brass cuttings- Rs 20,200, and aluminium utensils- Rs 10,000.

Non-ferrous metals: copper wire bars- Rs 28,500, aluminium ingots- Rs 12,800, zinc slab- Rs 13,900, lead ingots- Rs 6,300, Tin slab- Rs 420 (per kg) and nickel cathode- Rs 781 (per kg).

UNI VD KU AW1642