Metal prices shoots up on heavy industrial demand

Mumbai, June 16 (UNI) Metal prices shot up on heavy 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 utensils shot up by Rs 5,000 while brass cuttings rose by Rs 2,000 together with copper heavy and brass utensils hiked by Rs 1,500 and Rs 1,000 respectively and aluminium utensils by Rs 200 on improved offers by stockists.

In the non-ferrous section (per quintal), the rates of copper wire bars and aluminium ingots hiked by Rs 2,700 and Rs 100, respectively, on reduced stock supply.

However, price of tin slab eased by Rs five per kg on thin buying support.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 32,500, copper utensils - Rs 26,000, brass utensils - Rs 18,000, brass cuttings - Rs 22,000, aluminium utensils - Rs 10,000.

Non-ferrous metals: copper wire bars - Rs 36,800, aluminium ingots - Rs 13,300, zinc slab - Rs 16,500, lead ingots - Rs 6,300, tin slab - Rs 455 (per kg), nickel cathode - Rs 1,040 (per kg).

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