Copper, brass, aluminium prices rise on firm global advice

Mumbai, Aug 11 (UNI) Prices of copper, brass and aluminium rallied today on sustained heavy industrial demand and bullish advice from London Metal Exchange (LME), 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, brass utensils and brass cuttings hiked sharply from Rs 200 to Rs 300 on lack of offers from stockists because of less ready stocks in the market and bullish advice from LME, Kolkata, Delhi and Indore centres.

Aluminium utensils also rose by Rs 50 on scattered demand from local dealers.

In the non-ferrous metals segment (per quintal), copper wire bars, aluminium ingots, and lead ingot also hiked by Rs 400, Rs 50 and Rs 300 on fresh demand from industrial users. But, nickel cathode and tin slab prices plunged by Rs five per kg each on poor construction users demand and weak advice from abroad and upcountry markets.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 34,300, Copper utensils - Rs 31,000, Brass utensils - Rs 25,300, Brass cuttings - Rs 26,800 and Aluminium utensils - Rs 11,300.

Non-ferrous metals: Copper wire bars - Rs 37,800, Aluminium ingots - Rs 13,450, Zinc slabs - Rs 17,800, Lead ingots - Rs 10,800, Tin slab - Rs 780 (per kg) and Nickel cathode - Rs 1,320 (per kg).

UNI