Tin slab price rise on strong LME advice

Mumbai, Aug 21 (UNI) Prices of tin slab along with select ferrous and non ferrous metals today rallied on bullish advice, traders at the Bombay Metal Exchange (BME) said.

In ferrous category (per quintal), copper heavy and copper utensils were up by Rs 100 and Rs 250 per quintal respectively on reduced stock supply. Brass utensils also advanced by Rs 100 owing to heayy industrial users demand. Sellers reserved their stocks in view of strong advice from London Metal Exchange (LME) along with Kolkata, Delhi and other centres.

In non-ferrous metal segments (per quintal) copper wire bar was up by Rs 100 per quintal due to fresh buying support. Similarly Aluminium ingots and tin slab also rose by Rs 100 and Rs 25 per kg respectively in line with ferrous metal prices.

But nickel cathode eased by Rs five per kg on larger stock supply from upcountry centres. There was slack industrial users demand.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 34,500, Copper utensils - Rs 31,000, Brass utensils - Rs 25,400, Brass cuttings - Rs 26,900 and Aluminium utensils - Rs 11,000.

Non-ferrous metals: Copper wire bars - Rs 38,100, Aluminium ingots - Rs 13,000, Zinc slabs - Rs 17,400, Lead ingots - Rs 10,900, Tin slab - Rs 735 (per kg) and Nickel cathode - Rs 1,320 (per kg).

UNI