Copper crashes on lack of fresh industrial demand

Mumbai, Nov 11 (UNI) Copper crashed on lack of fresh demand, traders at the Bombay Metal Exchange said today.

In ferrous category, copper heavy and copper utensils declined by Rs 500 and Ra 1,000 per quintal respectivley, while brass utensils, brass cuttings and aluminium utensils eased by Rs 300, Rs 200 and Rs 100 per quintal on sustained heavy selling pressure.

In non-ferrous section, copper wire bars crashed by Rs 2,700 per quintal while aluminium ingots, zinc slab and lead ingots fell by Rs 100, Rs 500 and Rs 200 per quintal respectively on increased offers by stockists.

Nickel cathode drifted lower by Rs 30 per kg on thin buying support.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 35,300, copper utensils - Rs 31,500, brass utensils - Rs 22,700, brass cuttings - Rs 27,000 and aluminium utensils - Rs 11,200.

Non-ferrous metals: Copper wire bars - Rs 38,100, aluminium ingots - Rs 14,000, zinc slab - Rs 24,000, lead ingots - Rs 7,950, tin slab - Rs 570 (per kg) and nickel cathode - Rs 1,820 (per kg).

UNI VD SSS AW1536