Copper eases, nickel hikes

Mumbai, Sep 13 (UNI) Copper prices eased on lack of fresh demand along with the London Metal Exchange, while nickel hiked on better buying support, traders at the Bombay Metal Exchange today said.

In the ferrous segment (per quintal), copper utensils declined by Rs 300 per quintal, while copper heavy and aluminium utensils eased by Rs 100 each per quintal on sustained heavy selling pressure. But brass cutting rose by Rs 200 per quintal on lesser stock supply.

In the non-ferrous category (per quintal), aluminium ingots, zinc slab and lead ingots fell by Rs 100 each per quintal on increased offers by stockists.

But tin slab and nickel cathode went up by Re one and Rs ten per kg respectively on improved demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 36,900, Copper utensils - Rs 32,000, Brass utensils - Rs 22,700, Brass cuttings - Rs 26,200 and Aluminium utensils - Rs 10,700.

Non-ferrous metals: Copper wire bars - Rs 40,900, Aluminium ingots - Rs 13,000, Zinc slab - Rs 18,900, Lead ingots - Rs 6,700, Tin slab - Rs 530 (per kg) and Nickel cathode - Rs 1,680 (per kg).

UNI VD SSS VKG1642