Nickel, tin prices shot up

Mumbai, July 13 (UNI) Prices of Nickel cathode and Tin slab in non-ferrous metal segments shot up on heavy industrial demand along with firm advice from London Metal Exchange (LME), according to traders at the Bombay Metal Exchange today.

In non-ferrous metal group, Nickel cathode crossed Rs 1,300 and touched a new peak at Rs 1,301 per kg with handsome gains of Rs 21 from yesterday's level while tin slabs zoomed up by Rs five to Rs 495 per kg on reduced offers by stockists induced by bullish advice from LME, along with high volume at Delhi and Kolkata centres, traders said.

In ferrous section, Copper heavy and Copper utensils, prices however, eased by Rs 300 each per quintal on thin demand by local dealers while Brass utensil, Brass cutting and Aluminium utensils remained unchanged on scattered buying support by local dealers.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 37,500, 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 41,300, Aluminium ingots - Rs 13,100, Zinc slab - Rs 19,200, Lead ingots - Rs 6,200, Tin slab - Rs 495 (per kg), Nickel cathode - Rs 1,301 (per kg).

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