Ferrous and nickel declines on poor industrial demand

Mumbai, Nov 9 (UNI) Ferrous and nickel declined on poor industrial demand, traders at the Bombay Metal Exchange said today.

In ferrous section, copper heavy and copper utensils eased by Rs 300 each per quintal while brass utensils and aluminium utensils drifted lower by Rs 500 and Rs 100 per quintal respectivley on increased offers by stockists.

In non-ferrous section remained steady on moderate demand.

Nickel cathode fell by Rs 60 per kg on lack of fresh demand.

Following were the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 36,000, copper utensils - Rs 32,200, brass utensils - Rs 23,000, brass cuttings - Rs 27,000 and aluminium utensils - Rs 11,400.

Non-ferrous metals: Copper wire bars - Rs 40,500, aluminium ingots - Rs 14,000, zinc slab - Rs 24,200, lead ingots - Rs 8,100, tin slab - Rs 575 (per kg) and nickel cathode - Rs 1,830 (per kg).

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