Select ferrous and non ferrous metals ease

Mumbai, July 13 (UNI) Key ferrous and non-ferrous metal prices today witnessed an downward trend on thin industrial demand and bearish advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange said today.

In the ferrous category, copper utensils and copper heavy prices eased by Rs 200 and Rs 100 per quintal respectively while brass utensils also dropped by Rs 200 on sustained offers by local dealers,induced by discouraging advice from LME, traders said.

In the non-ferrous category, copper wire bars too eased by Rs 100 in sympathy with ferrous metal prices.

But, lead ingots and zinc slab gained by Rs 300 and Rs 400 per quintal, while tin slab and nickel cathode prices also went up by Rs five and Rs 15 respectively on fresh speculative demand from industrial users in the face of lesser stocks arrivals, traders added.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 35,300, Copper utensils - Rs 32,100, Brass utensils - Rs 25,500, Brass cuttings - Rs 27,400 and Aluminium utensils - Rs 11,400.

Non-ferrous metals: Copper wire bars - Rs 38,900, Aluminium ingots - Rs 13,500, Zinc slabs - Rs 18,100, Lead ingots - Rs 11,100, Tin slab - Rs 695 (per kg) and Nickel cathode - Rs 1,535 (per kg).

UNI