Ferrous metal rises on higher industrial demand
Mumbai, May 4 (UNI) Ferrous metal prices rose on higher industrial demand, traders at the metal exchange here today said.
In the ferrous section : brass utensils and brass cuttings hiked by Rs 500 each per quintal while copper utensils and copper heavy went up by Rs 300 and Rs 100 per quintal respectively on reduced stock supply.
In non-ferrous section : copper wire bars rose by Rs 300 per quintal on better buying support.
The prices of nickel cathode also went up by Re one per kg on good demand.
Following were the spot metal prices per quintal: Ferrous metals: Copper heavy- Rs 37,200, copper utensils- Rs 33,800, brass utensils- Rs 23,500, brass cuttings- Rs 26,000 and aluminium utensils- Rs 11,000.
Non-ferrous metals: copper wire bars- Rs 39,300, aluminium ingots- Rs 14,100, zinc slab- Rs 18,000, lead ingots- Rs 6,700, Tin slab- Rs 530 (per kg) and nickel cathode- Rs 983 (per kg).
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