Metal prices zoom up on heavy industrial demand

Mumbai, Apr 22 (UNI) Metal prices zoomed up on heavy industrial demand, traders at the metal exchange here said today.

In ferrous section, copper utensils shot up by Rs 2,500 per quintal while copper heavy rose by Rs 1,800 per quintal together with brass utensils and brass cuttings hiked by Rs 1,000 and Rs 500 per quintal respectively as sellers were hoarding their stocks.

In non-ferrous section, the rates of copper wire bars shot up by Rs 1,800 per quintal while aluminium ingots, zinc slab and lead ingots rose by Rs 300, Rs 100 and Rs 50 per quintal respectively, on reduced stock supply.

The prices of tin slab and nickel cathode hiked by Rs 15 and Rs 50 per kg, on improved demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy- Rs 36,500, copper utensils- Rs 34,000, brass utensils- Rs 24,000, brass cuttings- Rs 25,000 and aluminium utensils- Rs 10,500.

Non-ferrous metals: copper wire bars- Rs 38,700, aluminium ingots- Rs 13,500, zinc slab- Rs 18,000, lead ingots- Rs 6,700, Tin slab- Rs 535 (per kg) and nickel cathode- Rs 995 (per kg).

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