Ferrous metal hikes on heavy industrial demand

Mumbai, June 30 (UNI) Price of metals in ferrous section shot up on heavy industrial demand along with bullish advice from London Metal Exchange, traders at the Bombay Metal Exchange today said.

In ferrous section (per quintal) ; copper utensils shot up by Rs 2,500 while copper heavy and brass utensils hiked by Rs 1,500 each while brass cuttings rose by Rs 1,000 on increase of fresh demand.

In non-ferrous section (per quintal), copper wire bars hiked by Rs 1,500 while zinc slab went up by Rs 500 on reduced stock supply.

Similarily, nickel cathode also increased by Rs 30 per kg on better buying support.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 34,000, copper utensils - Rs 29,000, brass utensils - Rs 20,500, brass cuttings - Rs 24,000, aluminium utensils - Rs 10,000.

Non-ferrous metals: copper wire bars - Rs 38,300, aluminium ingots - Rs 12,900, zinc slab - Rs 17,200, lead ingots - Rs 6,000, tin slab - Rs 455 (per kg), nickel cathode - Rs 1,100 (per kg).

UNI VD MJ AW1628