Select ferrous, non ferrous metal rises on firm advice from LME

Mumbai, June 22 (UNI) Select ferrous and non-ferrous metal prices rallied on strong advice from London Metal Exchange (LME) and some heavy exporter and industrial demand, traders at the Bombay Metal Exchange today said.

The ferrous section: prices of copper heavy, copper utensils, brass scrap utensils and brass cutting went up by Rs 500 each per quintal on sutained heavy demand and on lesser stock supply.

In non-ferrous section: copper wire bars and zinc slab rose by Rs 500 and Rs 300 per quintal respectively on reduced of stock supply.

There was improved industrial demand by local dealers. Similarly nickel cathode shot up by Rs 30 per kg in line with copper prices.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 33,000, copper utensils - Rs 26,500, brass utensils - Rs 19,000, brass cuttings - Rs 23,000, aluminium utensils - Rs 9,900.

Non-ferrous metals: copper wire bars - Rs 36,800, aluminium ingots - Rs 13,000, zinc slab - Rs 16,500, lead ingots - Rs 5,900, tin slab - Rs 455 (per kg), nickel cathode - Rs 1,080 (per kg).

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