Select metal price declines on poor industrial demand

Mumbai, Jan 23 (UNI) Select metal prices declined on poor industrial demand as the London Metal edged up slightly, traders at the Bombay Metal Exchange today said.

In Ferrous section Copper heavy, Copper utensils and brass cuttings declined by Rs 400, Rs 200 and Rs 100 per quintal, respectively, on sustained heavy selling pressure.

In Non-ferrous section, Copper wire bar and Zinc Slab drifted lower by Rs 600 and Rs 900 per quintal, respectively, on increased offers by stockists. But aluminium ingots went up by Rs 100 per quintal on lesser stock supply.

Tin slab and Nickel Cathode eased by Rs six and Rs 75 per kg, respectively, on lack of fresh demand.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 30,600, copper utensils - Rs 29,000, brass utensils - Rs 22,900, brass cuttings - Rs 25,0100 and aluminium utensils - Rs 11,400.

Non-ferrous metals: Copper wire bars - Rs 33,900, aluminium ingots -Rs 14,400, zinc slab - Rs 20,200, lead ingots - Rs 7,500, tin slab - Rs 611 (per kg) and nickel cathode - Rs 1,900 (per kg).

UNI