Copper prices decline on lack of fresh industrial demand

Mumbai, Aug 4 (UNI) Copper prices declined on lack of fresh industrial demand along with the London Metal Exchange, according to traders at the Bombay Metal Exchange (BME) today.

In ferrous segment: copper heavy, copper utensils, brass utensils and brass cuttings eased by Rs 500 each per quintal, while aluminium utensils fell by Rs 100 per quintal on sustained heavy selling pressure.

In non-ferrous category: copper wire bars drifted lower by Rs 100 per quintal on thin buying support. But zinc slab hiked by Rs 100 per quintal on lesser stock supply.

Tin slab and nickel cathode fell by Rs two and Rs 25 per kg on increased offer by stockists.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 37,500, copper utensils - Rs 32,500, brass utensils - Rs 22,000, brass cuttings - Rs 25,500 and aluminium utensils - Rs 10,700.

Non-ferrous metals: Copper wire bars - Rs 41,600, aluminium ingots - Rs 13,000, zinc slab - Rs 18,900, lead ingots - Rs 6,300, tin slab - Rs 485 (per kg) and nickel cathode - Rs 1,325 (per kg).

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