Metal prices decline further on poor industrial demand

Mumbai, Jun 1 (UNI) Metal prices declined further on poor industrial demand along with London metal exchange, traders at the metal exchange here today said.

In the ferrous section, rates of copper heavy crashed by Rs 1,000 per quintal while copper utensils, brass utensils and brass cuttings eased by Rs 500 each per quintal on sustained heavy selling pressure.

In the non-ferrous segment, copper wire bars, aluminium ingots and zinc slab drifted lower by Rs 700, Rs 200 and Rs 100 per quintal, respectively, on increase of stock supply.

Tin slab and Nickel cathode prices came down by Rs five and Rs ten per kg, respectively, on thin buying support.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 37,500, copper utensils - Rs 31,500, brass utensils - Rs 21,500, brass cuttings - Rs 24,200, aluminium utensils - Rs 10,800.

Non-ferrous metals: copper wire bars - Rs 40,800, aluminium ingots - Rs 14,000, zinc slab - Rs 19,400, lead ingots - Rs 6,700, tin slab - Rs 475 (per kg), nickel cathode - Rs 1,100 (per kg).

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