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Nickel, tin, copper

Written by: Staff
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Mumbai, June 7 (UNI) Key metal prices including copper heavy, brass utensils and nickel cathode in ferrous and non-ferrous categories suffered a setbck for the second consecutive day today on sustained heavy offers by stockists, in view of bearish advice from London Metal Exchange (LME), traders at the metal exchange today said.

In the ferrous segment (per quintal), the rates of copper heavy and copper utensils prices crashed major by Rs 800 and Rs 500, respectively, while that of brass utensils and brass cutting also declined steeply by Rs 300 and Rs 150, respectively, on poor industrial users' demand, induced by discouraging advice from LME along with Kolkata, Delhi, Indore and others.

In the non-ferrous section, copper wire bars and aluminimum rates also crashed steeply by Rs 500 and Rs 300, respectivley, in-line with ferrous metal prices.

Similarly, prices of tin slab and nickel also came down by Rs three and Rs 15 per kg, respectively, on improved offers by stockists, along with reports of weak advice from London Metal Exchange and strong demand by local dealers.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,200, copper utensils - Rs 30,000, brass utensils - Rs 20,500, brass cuttings - Rs 24,000, aluminium utensils - Rs 10,600.

Non-ferrous metals: copper wire bars - Rs 39,800, aluminium ingots - Rs 13,800, zinc slab - Rs 18,400, lead ingots - Rs 6,500, tin slab - Rs 475 (per kg), nickel cathode - Rs 1,085 (per kg).

UNI AR GK AG1705

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