Copper crashes on poor industrial demand

Mumbai, May 25 (UNI) Copper crashed on poor industrial demand in line with the London Metal Exchange, traders at the Bombay Metal Exchange said today.

In the ferrous section, copper heavy and copper utensils crashed by Rs 1,500 and Rs 1,100 per quintal, while brass utensils and brass cuttings declined by Rs 500 each per quintal on lack of fresh demand.

In the non-ferrous section, coppre wire bars eased by Rs 1,100 per quintal while zinc slab and lead ingots fell by Rs 300 and Rs 200 per quintal respectively on sustained heavy selling pressure.

Nickel cathode also came down by Rs 15 per kg on thin buying support.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 33,800, Copper utensils - Rs 30,300, Brass utensils - Rs 24,800, Brass cuttings - Rs 25,800 and Aluminium utensils - Rs 11,900.

Non-ferrous metals: Copper wire bars - Rs 37,200, Aluminium ingots - Rs 14,150, Zinc slabs - Rs 19,200, Lead ingots - Rs 9,500, Tin slab - Rs 720 (per kg) and Nickel cathode - Rs 2,210 (per kg).

UNI