Tin, copper, brass prices slip on bearish global advice

Mumbai, Aug 3 (UNI) Prices of tin slab, copper utensils, and nickel cathode today ruled easy on lack of fresh industrial demand and bearish advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange said.

In the ferrous metals group, copper heavy and copper utensils declined by Rs 100 and Rs 200 per quintal each on poor buying support, while brass utensils and brass cuttings also eased by Rs 50 and Rs 100 per quintal respectively on thin industrial demand and discouraging advice from LME, Kolkata, Delhi and Indore centres.

In the non-ferrous metals segment, copper wire bars, aluminium ingots, zinc slab and lead ingots too were down between Rs 50 and Rs 100 per quintal on larger stock supply.

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

Nickel cathode, however, rose by Rs five per kg 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 35,400, Copper utensils - Rs 31,600, Brass utensils - Rs 25,500, Brass cuttings - Rs 27,000 and Aluminium utensils - Rs 11,500.

Non-ferrous metals: Copper wire bars - Rs 38,700, Aluminium ingots - Rs 13,700, Zinc slabs - Rs 18,300, Lead ingots - Rs 11,000, Tin slab - Rs 765 (per kg) and Nickel cathode - Rs 1,490 (per kg).

UNI