Copper, zinc, lead slip on weaker LME advice

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Mumbai, Sep 13 (UNI) Prices of copper wire bars, lead ingot and zinc slab today drifted lower on increased offers from stockists and bearish global advice from London Metal Exchange (LME), Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange (BME) said today.

In the ferrous category (per quintal), copper heavy and brass utensils eased by Rs 100 each on lack of fresh industrial users demand. Brass cutting and Aluminium utensils also dropped by Rs 200 per quintal each due to increased offers from stockists.

In the non-ferrous segment (per quintal), copper wire bar and lead ingot too came down by Rs 300 and Rs 100 respectively, while aluminium ingots and zinc slab declined by Rs 100 each owing to thin buying support by local dealers. Similarly, tin slab also eased by Rs five per kg in line with copper price.

Nickel cathode, however, looked up by Rs 30 per kg due to firm advice from LME along with brisk industrial demand.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 34,500, Copper utensils - Rs 31,500, Brass utensils - Rs 25,400, Brass cuttings - Rs 26,800 and Aluminium utensils - Rs 10,900.

Non-ferrous metals: Copper wire bars - Rs 37,800, Aluminium ingots - Rs 12,800, Zinc slab - Rs 16,000, Lead ingots - Rs 11,000, Tin slab - Rs 745 per kg and Nickel cathode - Rs 1,480 per kg.


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