Metal prices costlier on heavy industrial demand

Mumbai, Mar 31 (UNI) Metal prices shot up on heavy industrial demand along with higher advice from London Metal Exchange (LME), traders at the metal exchange here today said.

In ferrous section: copper heavy hiked by Rs 1,000 per quintal, while copper utensils, brass utensils and brass cuttings rose by Rs 400 each per quintal together with aluminium utensils by Rs 100 per quintal as sellers were hoarding their stocks.

In non-ferrous section: copper wire bars shot up by Rs 700 per quintal, while zinc slab rose by Rs 300, aluminium ingots by Rs 200 and lead ingots by Rs 100 per quintal respectively on reduced stock supply.

Tin slab and nickel cathode went up by Rs seven and Rs nine per kg respectively on improved demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy- Rs 27,500, copper utensils- Rs 24,700, brass utensils- Rs 19,500, brass cuttings- Rs 20,700, and aluminium utensils- Rs 10,100.

Non-ferrous metals: copper wire bars- Rs 29,300, aluminium ingots- Rs 13,000, zinc slab- Rs 14,200, lead ingots- Rs 6,400, Tin slab- Rs 430 (per kg) and nickel cathode- Rs 804 (per kg).

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