Nickel up; copper down with LME

Mumbai, Sep 29 (UNI) Nickel shot up by Rs 70 per kg on increased demand while copper declined by Rs 200 per quintal on increased offers by stockists in line with London Metal Exchange, traders at the Bombay Metal Exchange today said.

In ferrous section : copper heavy eased by Rs 200 per quintal while copper utensil, brass utensils and brass cuttings fell by Rs 100 each per quintal on sustained heavy selling pressure.

But aluminium utensils rose by Rs 100 per quintal on better buying support.

In non-ferrous section : copper wire bars declined by Rs 200 per quintal while zinc slab and lead ingots fell by Rs 100 and Rs 125 per quintal on thin buying support. But aluminium ingots went up by Rs 100 per quintal on lesser stock supply.

Nickel cathode shot up by Rs 70 per kg on increase of fresh demand. But tin slab fell by Rs two per kg on poor demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 37,300, Copper utensils - Rs 32,500, Brass utensils - Rs 22,800, Brass cuttings - Rs 26,500 and Aluminium utensils - Rs 10,400.

Non-ferrous metals: Copper wire bars - Rs 40,800, Aluminium ingots - Rs 12,600, Zinc slab - Rs 19,000, Lead ingots - Rs 6,800, Tin slab - Rs 516 (per kg) and Nickel cathode - Rs 1,700 (per kg).

UNI VD MJ AW1630