Ferrous metal rise on heavy industrial demand

Mumbai, May 30 (UNI) Ferrous metal prices rose on heavy industrial demand along with London metal exchange, traders at the metal exchange here today said.

In the ferrous section, rates of copper heavy shot up by Rs 500 per quintal while copper utensils, brass utensils and brass cuttings rose by Rs 200 each per quintal reduced stock supply.

In the non-ferrous segment, prices remained steady on moderate demand.

Nickel cathode prices fell by Rs 30 per kg, on sustained heavy selling pressure.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 38,500, copper utensils - Rs 32,200, brass utensils - Rs 22,200, brass cuttings - Rs 24,700, aluminium utensils - Rs 10,900.

Non-ferrous metals: copper wire bars - Rs 41,500, aluminium ingots - Rs 14,300, zinc slab - Rs 19,000, lead ingots - Rs 6,700, tin slab - Rs 485 (per kg), nickel cathode - Rs 1,120 (per kg).

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