Copper shoots up on increase demand

Mumbai, Sep 18 (UNI) Copper shot up on increase of fresh demand while nickel declined on thin buying support as London Metal Exchange remained steady, traders at the Bombay Metal Exchange today said.

In the ferrous segment (per quintal), copper heavy rose by Rs 800 per quintal on reduced stock supply while brass utensils declined by Rs 100 per quintal on thin buying support.

In the non-ferrous category (per quintal), copper wire bars, zinc slab and lead ingots hiked by Rs 800, Rs 300 and Rs 100 per quintal respectively on lesser stock supply.

Tin slab and Nickel cathode fell by Rs five and Rs 20 per kg respectively on increased offers by stockists.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 36,800, Copper utensils - Rs 32,000, Brass utensils - Rs 22,400, Brass cuttings - Rs 26,000 and Aluminium utensils - Rs 10,900.

Non-ferrous metals: Copper wire bars - Rs 40,600, Aluminium ingots - Rs 13,000, Zinc slab - Rs 18,700, Lead ingots - Rs 6,800, Tin slab - Rs 520 (per kg) and Nickel cathode - Rs 1,630 (per kg).

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