Copper, Nickel, tin prices down on weaker global advice

Mumbai, Aug 10 (UNI) The prices of Copper, Nickel, Tin and lead in ferrous and non-ferrous metals drifted lower for the third consecutive third day today on sustained heavy offers by stockists in view of bearish advice from London Metal Exchange (LME) along with Kolkata, Delhi, Indore and other centres, traders at the Bombay Metal Exchange (BME) said.

In the ferrous metals category (per quintal) copper heavy, copper utensils and brass cuttings crashed steeply by Rs 200, Rs 200 and Rs 300 respectively on poor industrial users demand in face of larger ready stocks at market along with bearish advice from LME, along with Kolkata, Delhi and Indore centres. Brass utensils and Aluminium utensils, however, remained unchanged on moderate demand in the face of sufficient stocks.

In the non-ferrous metals segment (per quintal), copper wire bars, aluminium ingots, and lead ingot also declined by Rs 200 each on thin demand from industrial users in the face of larger stocks. Similarly, nickel cathode and tin slab prices plunged by Rs 55 and Rs five per kg respectively on poor construction users demand induced by weaker advice from abroad and upcountry markets.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 34,000, Copper utensils - Rs 30,900, Brass utensils - Rs 25,100, Brass cuttings - Rs 26,500 and Aluminium utensils - Rs 11,300.

Non-ferrous metals: Copper wire bars - Rs 37,400, Aluminium ingots - Rs 13,400, Zinc slabs - Rs 17,500, Lead ingots - Rs 10,800, Tin slab - Rs 785 (per kg) and Nickel cathode - Rs 1,325 (per kg).

UNI