Select metal prices rise on better buying support

Mumbai, Jan 15 (UNI) Select metal prices rose on better buying support today as London Metal Exchange declined, traders at the Bombay Metal Exchange said.

In the ferrous category, copper utensils and brass cuttings shot up by Rs 900 and Rs 500 per quintal, respectively, while Brass utensils and aluminium utencils rose by Rs 200 and Rs 50 per quintal on reduced stock supply.

In the non-ferrous segment, copper wire bar and lead ingots hiked by Rs 300 and Rs 100 per quintal, respectively, on increase of fresh demand while aluminium ingots and zinc slabs eased by Rs 100 and Rs 200 per quintal, respectively, on sustained heavy selling pressure.

Nickel cathode drifted lower by Rs 50 per kg on increased offers by stockists.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 31,500, copper utensils - Rs 30,000, brass utensils - Rs 23,000, brass cuttings - Rs 25,500 and aluminium utensils - Rs 11,300.

Non-ferrous metals: copper wire bars - Rs 34,500, aluminium ingots - Rs 14,400, zinc slab - Rs 21,300, lead ingots - Rs 7,450 tin slab - Rs 590 (per kg) and nickel cathode - Rs 1,750 (per kg).

UNI