Copper crashes along with nickel

Mumbai, Sep 16 (UNI) Copper crashed along with nickel on sustained heavy selling pressure, traders at the Bombay Metal Exchange today said.

In the ferrous segment (per quintal), copper heavy and copper utnesils declined by Rs 800 and Rs 500 per quintal respectively, while brass utensils eased by Rs 100 per quintal on thin buying support. But, aluminium utensils rose by Rs 100 per quintal on lesser stocks supply.

In the non-ferrous category (per quintal), copper wire bars drifted lower by Rs 900 per quintal due to lack of fresh demand.

Nickel cathode fell by Rs 30 per kg on increased offers by stockists.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 36,000, Copper utensils - Rs 32,000, Brass utensils - Rs 22,500, Brass cuttings - Rs 26,000 and Aluminium utensils - Rs 10,900.

Non-ferrous metals: Copper wire bars - Rs 39,800, Aluminium ingots - Rs 13,000, Zinc slab - Rs 18,400, Lead ingots - Rs 6,700, Tin slab - Rs 525 (per kg) and Nickel cathode - Rs 1,650 (per kg).

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