Copper, nickel eases on poor industrial demand

Mumbai, Nov 28 (UNI) Copper and nickel eased on poor industrial demand in line with the London Metal Exchange, traders at the Bombay Metal Exchange today said.

In ferrous section, copper heavy crashed by Rs 800 per quintal on lack of fresh demand while brass utensils went up by Rs 100 per quintal on better buying support.

In non-ferrous section, copper wire bars declined by Rs 500 per quintal on sustained heavy selling pressure while zinc slab rose by Rs 200 per quintal on lesser stock supply.

Nickel cathode drifted lower by Rs 20 per kg on increased offers by stockists.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 34,700, copper utensils - Rs 31,800, brass utensils - Rs 22,800, brass cuttings - Rs 27,000 and aluminium utensils - Rs 11,000.

Non-ferrous metals: Copper wire bars - Rs 38,500, Aluminium ingots - Rs 14,000, Zinc slab - Rs 24,200, Lead ingots - Rs 7,800, Tin slab - Rs 575 (per kg) and Nickel cathode - Rs 1,870 (per kg).

UNI VD MJ NV1636