Copper price shoots up on heavy industrial demand

Mumbai, July 12 (UNI) Copper prices shot up on heavy industrial demand along with London Metal Exchange, traders at the Bombay Metal Exchange said today.

In ferrous section, copper heavy and copper utensils hiked by Rs 1,000 each per quintal while brass utensil and brass cutting rose by Rs 500 each per quintal also aluminium utensils by Rs 100 per quintal on sellers were hoarding their stocks.

In non-ferrous section, copper wire bars also rose by Rs 1,000 per quintal while zinc slab and lead ingots went up by Rs 500 and Rs 50 per quintal respectively on reduced stock supply.

Tin slab and Nickel cathode prices also rose by Rs five and Rs 20 per kg on higher demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 38,000, Copper utensils - Rs 34,000, Brass utensils - Rs 23,000, Brass cuttings - Rs 26,000, Aluminium utensils - Rs 10,600.

Non-ferrous metals: Copper wire bars - Rs 41,800, Aluminium ingots - Rs 13,100, Zinc slab - Rs 19,500, Lead ingots - Rs 6,200, Tin slab - Rs 490 (per kg), Nickel cathode - Rs 1,280 (per kg).

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