Metal prices hike on good industrial demand

Mumbai, Mar 7 (UNI) Metal prices hiked on good industrial demand along with the London Metal Exchange, traders at the Bombay Metal Exchange said today.

In the ferrous category, copper heavy and brass cuttings increased by Rs 400 and Rs 600 per quintal respectively on higher advices. Copper utensils and brass utensils also inched up by Rs 200 each per quital on reduced stocks supply.

In the non-ferrous segment, copper wire bars rose by Rs 500 per quintal and aluminium ingots, zinc slabs and lead ingots went up by Rs 100 each per quintal due to better buying support.

Nickel cathode also soared by Rs 10 per kg on improved demand.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 31,000, copper utensils - Rs 28,900, brass utensils - Rs 23,500, brass cuttings - Rs 25,000 and aluminium utensils - Rs 11,900.

Non-ferrous metals: Copper wire bars - Rs 34,500, aluminium ingots - Rs 14,500, zinc slab Rs 18,800, lead ingots - Rs 8,400, tin slab - Rs 680 (per kg) and nickel cathode - Rs 2,050 (per kg).

UNI