Ferrous, non-ferrous metals slide

Mumbai, July 23 (UNI) Ferrous and non-ferrous metals drifted lower today on lack of fresh industrial demand, traders at the Bombay Metal Exchange said today.

In the ferrous metals group, copper heavy and copper utensils eased by Rs 200 and Rs 100 per quintal respectively owing to poor industrial demand induced by discouraging advice from London Metal Exchange.Business volume was thin since last few days.

Brass utensils and brass cuttings also eased by Rs 100 and Rs 200 per quintal rspectively.

In the non-ferrous metals segment, copper wire bars declined by Rs 300 per quintal, while aluminium ingot and zinc slab also dropped by Rs 150 each on thin demand. Nickel cathode,however shot up by Rs 50 per kg on heavy industrial demand. Tin slab also eased by Rs five in line with copper price.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 35,600, Copper utensils - Rs 32,100, Brass utensils - Rs 25,700, Brass cuttings - Rs 27,200 and Aluminium utensils - Rs 11,500.

Non-ferrous metals: Copper wire bars - Rs 39,000, Aluminium ingots - Rs 13,700, Zinc slabs - Rs 18,900, Lead ingots - Rs 11,200, Tin slab - Rs 740 (per kg) and Nickel cathode - Rs 1,670 (per kg).

UNI