Metal prices crash on thin buying support

Mumbai, June 9 (UNI) Metal prices crashed on poor demand along with London Metal Exchange (LME), traders at the metal exchange said today.

In the ferrous segment (per quintal), the rates of copper utensils, brass utensils and brass cuttings crashed by Rs 1,000 each while that of copper heavy and aluminium utensils eased by Rs 100 each, as traders were keen to sell their stocks.

In the non-ferrous section (per quintal), the rates of copper wire bars declined by Rs 300 while that of aluminium ingots and zinc slab fell by Rs 200 each, on lack of fresh demand.

However, price of nickel cathode came down by Rs 20 per kg, on increase of stock supply.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,000, copper utensils - Rs 28,500, brass utensils - Rs 19,500, brass cuttings - Rs 23,000, aluminium utensils - Rs 10,400.

Non-ferrous metals: copper wire bars - Rs 39,500, aluminium ingots - Rs 13,600, zinc slab - Rs 18,100, lead ingots - Rs 6,500, tin slab - Rs 475 (per kg), nickel cathode - Rs 1,075 (per kg).

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