Copper, nickel fall on poor industrial demand

Mumbai, Jan 8 (UNI) Copper and nickel prices today fell on poor industrial demand, traders at the Bombay metal exchange said.

In the ferrous category, copper heavy and copper utensils declined by Rs 1,000 and Rs 285 per quintal respectively, while brass utencils and brass cutting eased by Rs 200 and Rs 500 per quintal respectively on lack of fresh demand.

In the non-ferrous segment, copper wire bars and zinc slabs drifted lower by Rs 1,500 and Rs 200 per quintal respectively, while aluminium ingots and lead ingots fell by Rs 100 each per quintal on increased offers by stockists.

Nickel cathode slid by Rs 30 per kg on sluggish demand.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 29,500, copper utensils - Rs 28,000, brass utensils - Rs 22,200, brass cuttings - Rs 24,500 and aluminium utensils - Rs 11,100.

Non-ferrous metals: copper wire bars - Rs 32,500, aluminium ingots - Rs 14,300, zinc slab - Rs 22,000, lead ingots - Rs 7,300, tin slab - Rs 600 (per kg) and nickel cathode - Rs 1,700 (per kg).

UNI