Metal prices hikes on higher industrial demand
Mumbai, May 12 (UNI) Metal prices hiked on heavy industrial demand along with London Metal Exchange, traders at the metal exchange today said.
In ferrous section, the rates of copper heavy, copper utensils and brass utensils shot up by Rs 1,000 each per quintal while brass cutting and aluminium utensils rose by Rs 500 and Rs 300 per quintal respectively on increase of fresh demand.
In non-ferrous section, the rates of copper wire bars hiked by Rs 1,500 per quintal while zinc slab and lead ingots rose by Rs 300 and Rs 200 per quintal respectively on reduced stock supply.
Nickel cathode prices also went up by Rs five per kg, on better buying support.
Following were the spot metal prices per quintal: Ferrous metals: Copper heavy- Rs 41,000, copper utensils- Rs 36,500, brass utensils- Rs 25,500, brass cuttings- Rs 28,000 and aluminium utensils- Rs 11,500.
Non-ferrous metals: copper wire bars- Rs 43,200, aluminium ingots- Rs 14,500, zinc slab- Rs 19,500, lead ingots- Rs 7,200, Tin slab- Rs 530 (per kg) and nickel cathode- Rs 1,055 (per kg).
UNI VD PM SKB1635