Nickel, tin, copper rise on firm LME advice

Mumbai, Sep 20 (UNI) Prices of nickel, tin and copper wire bars today ruled better 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 gained modestly by Rs 100 each on renewed brisk industrial users demand, induced by firm advice from LME, Kolkata and other centres.

Brass cutting and aluminium utensils also gained by Rs 50 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 hiked by Rs 500 and Rs 100 respectively.

Similarly, aluminium ingots and zinc slab gained by Rs 100 and Rs 300 respectively owing to heavy demand by local dealers.

Nickel cathode shot up sharply by Rs 45 and touched a three-month high of Rs 1625 per kg mainly on firm advice from LME along with brisk industrial demand. Similarly, tin price hiked by Rs 20 per kg on improved industrial demand by local dealers.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 35,500, Copper utensils - Rs 32,200, Brass utensils - Rs 25,600, Brass cuttings - Rs 27,100 and Aluminium utensils - Rs 10,700.

Non-ferrous metals: Copper wire bars - Rs 38,800, Aluminium ingots - Rs 12,300, Zinc slab - Rs 15,800, Lead ingots - Rs 11,600, Tin slab - Rs 770 per kg and Nickel cathode - Rs 1,625 per kg.

UNI