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Ferrous eases; non-ferrous rises in moorat trading

Written by: Staff

Mumbai, Oct 23 (UNI) Ferrous metal today eased on thin buying support while non-ferrous metal rose on account of increase in fresh demand on the first trading day of the Hindu calendar 'Vikram Samvat', year 2063, traders at the Bombay Metal Exchange said.

In the ferrous section, Copper heavy declined by Rs 389 per quintal while copper utensils, brass utensils and brass cutting eased by Rs 189 each per quintal on sustained heavy selling pressure.

But, aluminium utensils went up by Rs 11 per quintal on better buying support.

In non-ferrous category, copper wire bars declined by Rs 289 per quintal on increased offers by stockists. But aluminium ingots, zinc slab and lead ingots hiked by Rs 311, Rs 111 and Rs 51 per quintal on reduced stocks supply.

Tin slab and nickel cathode increased by Re one and Rs 21 per kg on increase of fresh demand.

Trading in metal exchange will remain closed on October 24 and 25 on account Bhau Beej and Ramzan EID.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 36,811, copper utensils - Rs 32,811, brass utensils - Rs 22,811, brass cuttings - Rs 26,611 and aluminium utensils - Rs 11,011.

Non-ferrous metals: Copper wire bars - Rs 40,811, aluminium ingots - Rs 13,511, zinc slab - Rs 20,811, lead ingots - Rs 7,551, tin slab - Rs 561 (per kg) and nickel cathode - Rs 2,001 (per kg).


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