Metal prices rise on sustain heavy buying support

Mumbai, Mar 15 (UNI) Ferrous and non ferrous metal prices today rose on sustained heavy buying support from industrial users in view of firm advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said today.

In ferrous segment (per quintal), copper heavy and copper utensils hiked by Rs 700 and Rs 500, respectively, on higher advice from LME. Brass cutting, Brass utencil and Aluminium utensil also edged up by Rs 400, Rs 200 and Rs 100, respectively, on increase of fresh demand from industrial users.

In non-ferrous category, Lead ingot, copper wire bar and zinc slab also inched up by Rs 500, Rs 400 and Rs 300 per quintal, respectively, on lesser stock supply by stockists.

Nickel Cathode also increased by Rs 60 per kg in sympathy with copper prices, dealers added.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 32,500, copper utensils - Rs 30,000, brass utensils - Rs 24,000, brass cuttings - Rs 25,500 and aluminium utensils - Rs 12,000.

Non-ferrous metals: Copper wire bars - Rs 35,500, aluminium ingots - Rs 14,400, zinc slab Rs 18,500, lead ingots - Rs 9,000, tin slab - Rs 700 (per kg) and nickel cathode - Rs 2,200 (per kg).

UNI