Metal prices crashes on poor industrial demand

Mumbai, June 14 (UNI) Metal prices crashed on poor industrial demand along with the London Metal Exchange (LME), traders at the metal exchange today said.

In the ferrous segment (per quintal), the rates of copper heavy and brass utensils declined by Rs 1,500 each while copper utensils eased by Rs 1,000 together with brass cuttings and aluminium utensils fell by Rs 500 and Rs 100 respectively as traders were keen to sell their stocks.

In the non-ferrous section (per quintal), the rates of copper wire bars and zinc slab crashed by Rs 1,000 and Rs 1,100 while aluminium ingots lead ingots came down by Rs 300 and Rs 200 respectively on sustained heavy selling pressure.

However, price of tin slab and nickel cathode fell by Rs 18 and Rs 55 per kg respectively on increase offers by stockists.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 30,000, copper utensils - Rs 21,000, brass utensils - Rs 17,000, brass cuttings - Rs 20,000, aluminium utensils - Rs 9,900.

Non-ferrous metals: copper wire bars - Rs 33,800, aluminium ingots - Rs 13,400, zinc slab - Rs 16,500, lead ingots - Rs 6,200, tin slab - Rs 450 (per kg), nickel cathode - Rs 1,020 (per kg).

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