Copper, nickel rise on strong global advice

Mumbai, July 31 (UNI) Prices of copper utensils rose up Rs 300 per quintal and nickel was up by Rs 20 per kg, on sustained heavy industrial demand, induced by firm advice from London Metal Exchange, traders at the Bombay Metal Exchange said.

In the ferrous metals group, copper heavy and copper utensils rose by Rs 300 per quintal each on better buying support while brass utensils and brass cuttings also hiked by Rs 200 and Rs 100 per quintal respectively on increased industrial demand in view of strong advice from LME, along with Kolkata, Delhi and Indore centres.

In the non-ferrous metals segment, zinc slab went up by Rs 100 per quitnal on reduced stock supply.

Tin slab and nickel cathode also were up by Rs 18 and Rs 20 per kg respectively on improved industrial demand induced by firm advice from LME, Kolkata and Delhi centres.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 35,500, Copper utensils - Rs 32,000, Brass utensils - Rs 25,700, Brass cuttings - Rs 27,100 and Aluminium utensils - Rs 11,500.

Non-ferrous metals: Copper wire bars - Rs 38,700, Aluminium ingots - Rs 13,650, Zinc slabs - Rs 18,600, Lead ingots - Rs 11,500, Tin slab - Rs 765 (per kg) and Nickel cathode - Rs 1,470 (per kg).

UNI