Nickel, tin, copper rise

Mumbai, Aug 23 (UNI) Prices of nickel cathode, tin slab and copper today ruled firm on lack of offers from stockists and bullish advice from the London Metal Exchange (LME), and Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange (BME) said.

In the ferrous category, copper heavy and copper utensils hiked by Rs 400 and Rs 300 per quintal respectively on reduced stock supply. Brass utensils and brass cuttings also advanced by Rs 200 each owing to heavy industrial users demand.

Sellers reserved their stocks in view of strong advice from London Metal Exchange (LME) and Kolkata, Delhi and other centres.

In the non-ferrous segment, copper wire bar shot up by Rs 400 per quintal due to fresh buying support. Similarly, lead ingots also rose by Rs 100 each in line with the ferrous metal prices.

Nickel cathode and tin slab jumped by Rs 45 and Rs 25 per kg respectively on sustained heavy industrial users demand and lesser stocks arrivals from upcountry centres.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 35,000, Copper utensils - Rs 31,400, Brass utensils - Rs 25,600, Brass cuttings - Rs 27,000 and Aluminium utensils - Rs 11,100.

Non-ferrous metals: Copper wire bars - Rs 38,300, Aluminium ingots - Rs 13,000, Zinc slab - Rs 17,500, Lead ingots - Rs 10,100, Tin slab - Rs 750 (per kg) and Nickel cathode - Rs 1,425 (per kg).

UNI