Nickel, lead, zinc crash on bearish LME advice

Mumbai, Sep 7 (UNI) Nickel, lead and zinc suffered major setbacks owing to poor 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.

However, in the ferrous category (per quintal), copper heavy and copper utensils rose by Rs 100 each on fresh speculative demand in view of firm advice from Kolkata, Delhi and other centres.

In the non-ferrous category (per quintal), copper wire bar also gained by Rs 100 on lesser stock supply from neighbouring centres.

But, zinc slab, lead ingot and nickel cathode declined by Rs 300, Rs 100 and Rs 10 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 34,600, Copper utensils - Rs 31,400, Brass utensils - Rs 25,500, Brass cuttings - Rs 26,900 and Aluminium utensils - Rs 11,100.

Non-ferrous metals: Copper wire bars - Rs 38,100, Aluminium ingots - Rs 12,900, Zinc slab - Rs 16,500, Lead ingots - Rs 11,300, Tin slab - Rs 750 per kg and Nickel cathode - Rs 1,450 per kg.

UNI