Metal prices recover on fresh industrial demand

Mumbai, June 15 (UNI) Metal prices recovered on fresh 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 shot up by Rs 1,000, while copper utensils rose by Rs 500 on increased fresh demand. But aluminium utensils declined by Rs 100.

In the non-ferrous section (per quintal), the rates of copper wire bars and lead ingots hiked by Rs 300 and Rs 100 respectively on reduced stocks supply. But aluminium ingots eased by Rs 200 on improved offers by stockists.

However, price of tin slab and nickel cathode went up by Rs 18 and Rs 20 per kg respectively on lesser stocks supply.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 31,000, copper utensils - Rs 21,500, brass utensils - Rs 17,000, brass cuttings - Rs 20,000 and aluminium utensils - Rs 9,800.

Non-ferrous metals: copper wire bars - Rs 34,100, aluminium ingots - Rs 13,200, zinc slab - Rs 16,500, lead ingots - Rs 6,300, tin slab - Rs 460 (per kg) and nickel cathode - Rs 1,040 (per kg).

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