Nickel rises, copper declines with LME

Mumbai, Oct 11 (UNI) Nickel rose by Rs ten while copper declined in line with London Metal Exchange on poor industrial demand, traders at the Bombay Metal Exchange today said.

In ferrous section: copper heavy and copper utensils declined by Rs 500 and Rs 300 per quintial respectively while brass utensils and brass cuttings eased by Rs 100 each per quintal on sustained heavy selling pressure.

In non-ferrous category: copper wire bars and zinc slab fell by Rs 500 and Rs 100 per quintal, respetively, on increased offer by stockists.

Nickel cathode hiked by Rs ten per kg on improved demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 37,000, Copper utensils - Rs 32,500, Brass utensils - Rs 22,700, Brass cuttings - Rs 26,400 and Aluminium utensils - Rs 10,900.

Non-ferrous metals: Copper wire bars - Rs 40,800, Aluminium ingots - Rs 13,000, Zinc slab - Rs 19,400, Lead ingots - Rs 6,900, Tin slab - Rs 520 (per kg) and Nickel cathode - Rs 1,890 (per kg).

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