Nickel cathode crosses Rs 1,000 mark, metal prices high

Mumbai, Apr 26 (UNI) Nickel cathode shot up along with copper heavy on fresh demand, traders at the metal exchange here said today.

In the ferrous section, copper heavy shot up by Rs 1,000 per quintal, while copper and brass utesils and brass cuttings rose by Rs 500 each per quintal along with aluminium utensils by Rs 100 per quintal as traders were hoarding their stocks.

In the non-ferrous section, the rates of zinc slab shot up by Rs 900 per quintal while copper wire bars, aluminium ingots and lead ingots rose by Rs 500, Rs 200 and Rs 100 per quintal respectively on reduced stock supply.

The prices of nickel cathode went up by Rs 15 per kg on improved demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy- Rs 37,500, copper utensils- Rs 34,500, brass utensils- Rs 24,500, brass cuttings- Rs 26,000 and aluminium utensils- Rs 10,600.

Non-ferrous metals: copper wire bars- Rs 39,000, aluminium ingots- Rs 13,600, zinc slab- Rs 19,400, lead ingots- Rs 6,900, Tin slab- Rs 538 (per kg) and nickel cathode- Rs 1,010 (per kg).

UNI VD KD AG1641