Nickel, tin crash on bearish LME advice

Mumbai, Sep 6 (UNI) Prices of non-ferrous metals like nickel, copper and tin suffered major setback on thin industrial users demand and bearish advice from London Metal Exchange (LME) and Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange (BME) said today.

In the ferrous category (per quintal), copper heavy and copper utensils declined by Rs 200 and Rs 50 respectively on sustained heavy selling pressure from stockists in view of discouraging advice from LME, Kolkata, Delhi and other centres.

In the non-ferrous category (per quintal), copper wire bar, zinc slab and lead ingot also eased by Rs 100 each on larger stock supply from neighbouring centres.

Tin slab and nickel cathode too came down by Rs 10 and Rs 20 per kg respectively on poor industrial demand in view of weaker advice from LME and Kolkata.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 34,500, Copper utensils - Rs 31,300, Brass utensils - Rs 25,600, Brass cuttings - Rs 27,000 and Aluminium utensils - Rs 11,100.

Non-ferrous metals: Copper wire bars - Rs 38,000, Aluminium ingots - Rs 12,900, Zinc slab - Rs 16,800, Lead ingots - Rs 11,400, Tin slab - Rs 750 per kg and Nickel cathode - Rs 1,460 per kg.

UNI