Metal prices eases on poor industrial demand

Mumbai, Feb 6 (UNI) Metal prices today eased on poor industrial demand here as well as on London Metal Exchange, traders at the Bombay Metal Exchange said.

In the ferrous category, copper heavy and brass utensils declined by Rs 100 each and copper utensils also slashed by Rs 200 due to increase offers by stockists. However, Brass cutting and Aluminium utencils shot up by Rs 400 and Rs 100 respectively on higher advice.

In the non-ferrous section, Copper wire bars and Aluminium ingots drifted lower by Rs 200 and Rs 100 per quintal respecivly due to thin buying support. But Zinc slab hiked by Rs 200 on lesser stock supply.

Tin slab and Nickel cathode fell by Rs two and Rs 30 per kg on sustained heavy selling pressure.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 29,700, Copper utensils - Rs 28,500, Brass tensils - Rs 22,700, Brass cuttings - Rs 24,500 and Aluminium tensils - Rs 11,500.

Non-ferrous metals: Copper wire bars - Rs 32,800, Aluminium ingots - Rs 14,200, Zinc slab Rs 18,500, Lead ingots - Rs 7,500, Tin slab - Rs 608 (per kg) and Nickel cathode - Rs 1,870 (per kg).

UNI