Ferrous metal prices slip on weaker LME advice

By Staff
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Google Oneindia News

Mumbai, Sep 10 (UNI) Prices of ferrous and non ferrous metal today drifted lower on thin industrial users demand and bearish global advice from the London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said today.

In the ferrous category (per quintal), copper heavy and brass utensils declined by Rs 100 per quintal each because of sluggish demand. Brass cutting and Aluminium utensils also declined by Rs 100 per quintal each due to thin buying support.

In the non-ferrous segment (per quintal), Copper wire bar and lead ingot went down by Rs 150 per quintal owing to sustained heavy selling pressure. Zinc slab also declined by Rs 100 per quintal owing to lack of demand.

Tin slab and Nickel cathode remained steady today due to moderate demand.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 34,500, Copper utensils - Rs 31,200, Brass utensils - Rs 25,400, Brass cuttings - Rs 26,800 and Aluminium utensils - Rs 11,000.

Non-ferrous metals: Copper wire bars - Rs 38,000, Aluminium ingots - Rs 12,900, Zinc slab - Rs 16,100, Lead ingots - Rs 11,100, Tin slab - Rs 750 per kg and Nickel cathode - Rs 1,450 per kg.

UNI

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