Copper and nickel rises on good industrial demand

Mumbai, Feb 26 (UNI) Copper and nickel rose on good industrial demand as the London Metal Exchange also edged up, traders at the Bombay Metal Exchange said today.

In the ferrous category, copper utensil, copper heavy and brass cutting was up by Rs 1000, Rs 600 and Rs 500 per quintal respectively on better buying support. Brass utensil also shot up by Rs 300 per quintal on lesser stock supply.

In the non-ferrous category, Copper wire bar and lead ingot edged up by Rs 800 and Rs 100 per quintal respectively on increase of fresh demand.

Nickel cathode was costlier by Rs 40 per kg on improved demand.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 31,800, copper utensils - Rs 30,000, brass utensils - Rs 23,500, brass cuttings - Rs 24,000 and aluminium utensils - Rs 11,900.

Non-ferrous metals: Copper wire bars - Rs 35,300, aluminium ingots - Rs 14,500, zinc slab Rs 19,000, lead ingots - Rs 8,300, tin slab - Rs 696 (per kg) and nickel cathode - Rs 2,060 (per kg).

UNI