Nickel crosses 2,000-mark, copper shoots up with LME

Mumbai, Oct 17 (UNI) Nickel today crossed Rs 2,000-mark to close at Rs 2,010 per kg as copper shot up on heavy demand along with London Metal Exchange, traders at the Bombay Metal Exchange said today.

In the ferrous section, copper heavy, copper utensils and brass utensils rose by Rs 300 each per quintal while brass cuttings and aluminium utensils hiked by Rs 500 and Rs 100 per quintal respectively on increase of fresh demand.

In the non-ferrous category, copper wire bars and zinc slab shot up by Rs 600 and Rs 400 per quintal respectively while aluminium ingots and lead ingots hiked by Rs 100 and Rs 50 per quintal respectively on reduced stock supply.

Tin slab and Nickel cathode zoomed by Rs 30 and Rs 40 per kg respectively on heavy demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 37,500, copper utensils - Rs 32,800, brass utensils - Rs 23,000, brass cuttings - Rs 26,900 and aluminium utensils - Rs 11,000.

Non-ferrous metals: Copper wire bars - Rs 41,400, aluminium ingots - Rs 13,200, zinc slab - Rs 20,500, lead ingots - Rs 7,250, tin slab - Rs 580 (per kg) and nickel cathode - Rs 2,010 (per kg).

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