Copper, nickel declines on poor industrial demand

Mumbai, Dec 13 (UNI) Copper and nickel declined on poor industrial demand as the London Metal Exchange remained steady on moderate demand, traders at the Bombay Metal Exchange today said.

In ferrous category, copper heavy and brass cuttings eased by Rs 100 and Rs 300 per quintal on sustained heavy selling pressure while copper utensils and aluminium utensils rose by Rs 300 and Rs 100 per quintal on lesser stock supply.

In non-ferrous category, copper wire bars drifted lower by Rs 100 per quintal on increased offers by stockists.

Tin slab and nickel cathode fell by Rs two and Rs 40 per kg on lack of fresh demand.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 34,500, Copper utensils - Rs 31,700, Brass utensils - Rs 22,800, Brass cuttings - Rs 26,200 and Aluminium utensils - Rs 11,000.

Non-ferrous metals: Copper wire bars - Rs 38,300, Aluminium ingots - Rs 14,000, Zinc slab - Rs 23,600, Lead ingots - Rs 8,300, Tin slab - Rs 598 (per kg) and Nickel cathode - Rs 1,780 (per kg).

UNI VD KU AG1710