Metal prices drifts lower

Mumbai, May 23 (UNI) Metal prices drifted lower in line with the London Metal Exchange, traders at the Bombay Metal Exchange said today.

In the ferrous section, copper utensils and brass utensils declined by Rs 300 each per quintal while copper heavy and brass cuttings fell by Rs 200 and Rs 100 per quintal respectively on sluggish demand.

In the non-ferrous category, copper wire bars crashed by Rs 700 per quintal while zinc slab came down by Rs 100 per quintal on lack of fresh demand.

Tin slab and Nickel cathode also eased by Rs 10 and Rs 50 per kg respectively on thin buying support.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 35,000, Copper utensils - Rs 31,200, Brass utensils - Rs 25,200, Brass cuttings - Rs 26,200 and Aluminium utensils - Rs 11,900.

Non-ferrous metals: Copper wire bars - Rs 38,300, Aluminium ingots - Rs 14,200, Zinc slabs - Rs 19,500, Lead ingots - Rs 9,700, Tin slab - Rs 720 (per kg) and Nickel cathode - Rs 2,250 (per kg).

UNI