Select metal prices rise on strong LME advice

Mumbai, Sep 7 (UNI) Key metal prices rallied on heavy industrial user demand along with firm advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange today said.

In the ferrous segment, copper heavy and its utensils hiked by Rs 5f00 per quintal on reduced stock supply.

In the non-ferrous category, aluminium ingots and zinc slab also rose by SRs 100 and Rs 200 per quintal respectively while tin slab and nickel cathode prices also gained by Rs five per kg each on lack of offers by stockists induced by bullish advice from LME besides Delhi, Kolkata and other centres.

But copper wire bars came down by Rs 100 per quintal on thin demand by local dealers.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 37,700, Copper utensils - Rs 33,000, Brass utensils - Rs 22,700, Brass cuttings - Rs 26,500 and Aluminium utensils - Rs 10,900.

Non-ferrous metals: Copper wire bars - Rs 40,900, Aluminium ingots - Rs 13,050, Zinc slab - Rs 18,900, Lead ingots - Rs 6,600, Tin slab - Rs 535 (per kg) and Nickel cathode - Rs 1,730 (per kg).

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