Nickel shoots up by 135, metal prices declines on poor demand

Mumbai, Aug 17 (UNI) Nickel cathode prices shot up by Rs 135 per kg on reduced stock supply while metal prices declined on increase of stock supply along with London Metal Exchange, traders at the Bombay Metal Exchange (BME) today said.

In ferrous segment, copper heavy and brass utensils drifted lower by Rs 200 each per quintal on thin buying support while copper utensils rose by Rs 500 per quintal on reduced stock supply.

In non-ferrous category, zinc slab and lead ingots eased by Rs 100 and Rs 50 per quintal, respectively, on lack of fresh demand.

Nickel price hiked by Rs 135 per kg on lesser stock supply.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 37,300, Copper utensils - Rs 32,000, Brass utensils - Rs 22,000, Brass cuttings - Rs 25,500 and Aluminium utensils - Rs 10,800.

Non-ferrous metals: Copper wire bars - Rs 41,300, Aluminium ingots - Rs 13,000, Zinc slab - Rs 19,000, Lead ingots - Rs 6,400, Tin slab - Rs 493 (per kg) and Nickel cathode - Rs 1,575 (per kg).

UNI VD MJ AG1622