Copper, brass scrap prices crash

Mumbai, Aug 1 (UNI) Prices of copper utensils, brass cuttings prices crashed steeply by Rs 200 per quintal each on thin industrial demand in view of bearish advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange said.

In the ferrous metals group, copper heavy and copper utensils plunged by Rs 100 and Rs 200 per quintal each on thin buying support while brass utensils and brass cuttings also eased by Rs 200 and Rs 100 per quintal respectively on poor industrial demand in view of discouraging advice from LME, along with Kolkata, Delhi and Indore centres.

In the non-ferrous metals segment, copper wire bars, aluminium ingots, zinc slab and lead ingots too came down between Rs 100 and Rs 200 per quintal on increased stock supply.

Tin slab also eased by Rs 15 per kg in line with ferrous metal prices.

Nickel cathode, however, was up by Rs 10 per kg on renewal 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 35,400, Copper utensils - Rs 31,8000, Brass utensils - Rs 25,500, Brass cuttings - Rs 27,000 and Aluminium utensils - Rs 11,500.

Non-ferrous metals: Copper wire bars - Rs 38,600, Aluminium ingots - Rs 13,600, Zinc slabs - Rs 18,500, Lead ingots - Rs 11,300, Tin slab - Rs 750 (per kg) and Nickel cathode - Rs 1,480 (per kg).

UNI