Ferrous metal, nickel rise on better industrial demand

Mumbai, Aug 19 (UNI) Select ferrous metal and nickel cathode prices rose on better industrial demand, traders at the Bombay Metal Exchange (BME) today said.

In the ferrous segment, copper heavy, aluminium utensils and brass utensils hiked by Rs 300, Rs 200 and Rs 100 per quintal respectively on reduced stock supply.

In the non-ferrous category, zinc slab declined by Rs 100 per quintal on thin buying support. Nickel prices rose by Rs 40 per kg on improved demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 37,300, copper utensils - Rs 31,500, brass utensils - Rs 22,100, brass cuttings - Rs 25,500 and aluminium utensils - Rs 10,900.

Non-ferrous metals: Copper wire bars - Rs 40,800, aluminium ingots - Rs 13,000, zinc slab - Rs 18,900, lead ingots - Rs 6,400, tin slab - Rs 495 (per kg) and nickel cathode - Rs 1,650 (per kg).

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