Key metal prices rise in line on firm advice from LME

Mumbai, Sep 21 (UNI) Select ferrous and non ferrous metal prices rallied in line with London Metal Exchange (LME) along with heavy industrial users demand, traders at the Bombay Metal Exchange today said.

In the ferrous segment (per quintal), brass utensils and copper heavy hiked by Rs 100 each on sustained heavy buying support by local dealers in view of strong advice from LME and also firm dealing at Kolkata, Indore and other centres.

But, aluminium utensils eased by Rs 300 on persistent offers by stockists in the face of thin industrial demand.

In the non-ferrous category (per quintal), copper wire bars, zinc slab, and lead ingots also rose by Rs 500, Rs 200 and Rs 100, respectively, on increased buying support by stockists.

Prices of Nickel cathode shot up by Rs 30 and touched a new peak at Rs 1,670 per kg while tin slab gained by Rs two per kg on heavy industrial users demand induced by firm advice from LME, traders added.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 36,800, Copper utensils - Rs 32,500, Brass utensils - Rs 22,700, Brass cuttings - Rs 26,000 and Aluminium utensils - Rs 10,300.

Non-ferrous metals: Copper wire bars - Rs 40,800, Aluminium ingots - Rs 12,500, Zinc slab - Rs 19,200, Lead ingots - Rs 6,800, Tin slab - Rs 520 (per kg) and Nickel cathode - Rs 1,670 (per kg).

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