Ferrous metal eases on thin buying support

Mumbai, Aug 12 (UNI) Prices of ferrous metals today eased on thin buying support, according to traders at the Bombay Metal Exchange (BME).

In ferrous segment, brass cuttings declined by Rs 700 per quintal while copper heavy and copper utensils eased by Rs 500 each per quintal while brass utensils and aluminium utensils drifted lower by Rs 200 each per quintal on increase offers by stockists.

In non-ferrous category, copper wire bar also fell by Rs 500 per quintal on sustained heavy selling pressure.

Nickel price went up by Rs five per kg due to increase in fresh demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 37,300, Copper utensils - Rs 32,500, Brass utensils - Rs 22,300, Brass cuttings - Rs 25,000 and Aluminium utensils - Rs 10,700.

Non-ferrous metals: Copper wire bars - Rs 41,300, 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 1,435 (per kg).

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