Nickel, zinc slab up; copper down with LME

Mumbai, Oct 16 (UNI) Zinc slab and nickel cathode rose on reduced stocks supply while copper declined on lack of fresh demand in line with London Metal Exchange, traders at the Bombay Metal Exchange said today.

In the ferrous section, copper heavy declined by Rs 200 per quintal, while copper utensils, brass utensils and brass cuttings eased by Rs 100 each per quintal on increased offers by stocks.

In the non-ferrous category, copper wire bars drifted lower by Rs 200 per quintal on sustained heavy selling pressure. But zinc slab and lead ingots hiked by Rs 100 and Rs 50 per quintal on increased of fresh demand.

Nickel cathode went up by Rs 10 per kg on improved demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 37,200, 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 13,100, zinc slab - Rs 20,100, lead ingots - Rs 7,200, tin slab - Rs 550 (per kg) and nickel cathode - Rs 1,970 (per kg).

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