Metal prices crash on weak industrial demand

Mumbai, May 20 (UNI) Metal prices crashed on weak industrial demand, traders at the metal exchange today said.

In the ferrous section, copper utensils crashed by Rs 2,000 per quintal while copper heavy and brass cuttings fell by Rs 1,300 and Rs 1,000 per quintal respectively. Brass utensils and aluminium utensils fell by Rs 500 and Rs 200 per quintal respectively as traders were keen to sell their stocks.

In the non-ferrous section, copper wire bars also crashed by Rs 1,900 per quintal while zinc slab, aluminium ingots and lead ingots fell by Rs 500, Rs 250 and Rs 100 per quintal respectively on sustained heavy selling pressure.

Tin slab and Nickel cathode came down by Rs 35 and Rs 25 per kg on increased offers by stockists.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 38,000, copper utensils - Rs 33,500, brass utensils - Rs 22,000, brass cuttings - Rs 25,000, aluminium utensils - Rs 11,000.

Non-ferrous metals: copper wire bars - Rs 40,000, aluminium ingots - Rs 15,000, zinc slab - Rs 18,500, lead ingots - Rs 6,900, tin slab - Rs 475 (per kg), nickel cathode - Rs 1,005 (per kg).

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