Copper declines, nickel rises

Mumbai, Aug 11 (UNI) Prices of copper declined on sustained heavy selling pressure while nickel cathode rose by Rs 30 per kg on heavy demand as London Metal Exchange (LME) eased on poor industrial demand, according to traders at the Bombay Metal Exchange (BME) today.

In ferrous segment, copper heavy prices declined by Rs 200 per quintal on thin buying support while brass cuttings rose by Rs 200 per quintal on lesser stocks supply.

In non-ferrous category, copper wire bar prices eased by Rs 500 per quintal on increase of stock supply.

Nickel price hiked by Rs 30 per kg and tin slab went up by Re one per kg on increase of fresh demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 37,800, Copper utensils - Rs 33,000, Brass utensils - Rs 22,500, Brass cuttings - Rs 25,700 and Aluminium utensils - Rs 10,900.

Non-ferrous metals: Copper wire bars - Rs 41,800, Aluminium ingots - Rs 13,000, Zinc slab - Rs 19,000, Lead ingots - Rs 6,300, Tin slab - Rs 492 (per kg) and Nickel cathode - Rs 1,430 (per kg).

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