Copper, tin, Brass utensil slip on weak advice from LME

Mumbai, Aug 29 (UNI) Prices of copper, tin and brass utensils in ferrous and non ferrous metals showed an downward trend on thin industrial users demand in view of discouraging advice from London Metal Exchange (LME) along with Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange said today.

In ferrous category (per quintal), copper heavy and copper utensils prices declined by Rs 500 and Rs 300 respectively, while brass utensils and brass cuttings were down by Rs 200 and Rs 100 respectively on sustained heavy offers by stockists induced by bearish advice from LME along with Kolkata, Indore, Delhi and other centres, traders said.

In the non-ferrous segment (per quintal), copper wire bar and aluminium ingots crashed by Rs 500 and Rs 100 respectively due to larger stock supply, induced by weaker advice from Kolkata, Delhi and other centres.

Tin slab also was down by Rs 15 per kg in line with copper prices. But Nickel cathode hiked by Rs 10 per kg on lesser stock supply from upcountry centres.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 34,500, Copper utensils - Rs 31,200, Brass utensils - Rs 25,300, Brass cuttings - Rs 26,800 and Aluminium utensils - Rs 11,100.

Non-ferrous metals: Copper wire bars - Rs 38,000, Aluminium ingots - Rs 12,900, Zinc slab - Rs 17,100, Lead ingots - Rs 11,500, Tin slab - Rs 735 per kg and Nickel cathode - Rs 1,390 per kg.

UNI