Metal prices zoom on heavy industrial demand

Mumbai, May 24 (UNI) Metal prices today zoomed on heavy industrial demand, traders at the metal exchange said.

In the ferrous section, rates of copper heavy shot up by Rs 1,500 per quintal while that of copper utensils, brass utensils and brass cuttings rose by Rs 500 each per quintal, while the rates of aluminium utensils went up by Rs 100 per quintal on reduced stock supply.

In the non-ferrous section, rates of copper wire bars shot up by Rs 2,500 per quintal while that of zinc slab, aluminium ingots and lead ingots were up by Rs 500, Rs 200 and Rs 100 per quintal, respectiely, on lesser stock supply.

Tin slab and Nickel cathode rates went up by Rs ten and Rs 20 per kg, respectively, on better buying support.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 38,500, copper utensils - Rs 31,500, brass utensils - Rs 21,500, brass cuttings - Rs 2,000, aluminium utensils - Rs 10,900.

Non-ferrous metals: copper wire bars - Rs 41,500, aluminium ingots - Rs 14,400, zinc slab - Rs 18,500, lead ingots - Rs 6,900, tin slab - Rs 475 (per kg), nickel cathode - Rs 1,050 (per kg).

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