Ferrous metals decline on poor buying support

Mumbai, Jun 8 (UNI) Ferrous metal prices declined on poor buying support, traders at the Bombay Metal Exchange said.

In the ferrous section, copper heavy and copper utensils came down by Rs 600 and Rs 700 per quintal respectively due to sluggish industrial demand. Brass utensils and aluminium utensils also fell by Rs 200 per quintal each on absence of fresh demand.

In the non-ferrous section, copper wire bar drifted lower by Rs 500 per quintal on sustained heavy selling pressure. Lead ingot shot up by Rs 100 per quintal on higher advice.

Tin slab was up by Rs five on good demand while nickel cathode eased by Rs 100 due to thin buying support.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 34,700, Copper utensils - Rs 30,700, Brass utensils - Rs 25,500, Brass cuttings - Rs 26,800 and Aluminium utensils - Rs 11,600.

Non-ferrous metals: Copper wire bars - Rs 38,300, Aluminium ingots - Rs 14,000, Zinc slabs - Rs 19,200, Lead ingots - Rs 10,400, Tin slab - Rs 710 (per kg) and Nickel cathode - Rs 2,100 (per kg).

UNI