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Copper wire bars, lead & brass rises on firm LME advice

Written by: Staff

Mumbai, Sep 17 (UNI) Prices of copper wire bars, copper wire bars, lead, and brass scrap in ferrous and non ferrous metals today rallied on reduced offers from stockists and bullish 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 were up by Rs 100 each on sustained brisk industrial users demand.

Brass cutting and Aluminium utensils also gained by Rs 300 and Rs 100 respectively due to reduced offers from stockists induced by firm advice from LME along with Kolkata and Delhi centres.

In the non-ferrous segment (per quintal), copper wire bar and lead ingot too hiked by Rs 100 and Rs 500 respectively, while aluminium ingots and zinc slab gained by Rs 100 each owing to increase in buying support by local dealers. Similarly, tin slab also was up by Rs five per kg in line with copper prices.

Nickel cathode, however, declined by Rs 10 per kg due to weaker advice from LME along with brisk industrial demand.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 35,000, Copper utensils - Rs 31,600, Brass utensils - Rs 25,500, Brass cuttings - Rs 27,100 and Aluminium utensils - Rs 10,700.

Non-ferrous metals: Copper wire bars - Rs 38,300, Aluminium ingots - Rs 12,300, Zinc slab - Rs 16,000, Lead ingots - Rs 11,500, Tin slab - Rs 750 per kg and Nickel cathode - Rs 1,510 per kg UNI

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