Copper, lead & zinc rally on firm LME advice

Mumbai, Sep 27 (UNI) Prices of copper heavy and its wire bars, along with lead and zinc, today rallied again on lack of offers from stockists and firm 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 increase in fresh industrial users demand, induced by bullish advice from LME, Kolkata and other centres.

Brass cuttings and aluminium utensils also gained by Rs 50 and Rs 100 respectively due to lack of selling pressure from stockists, induced by firm advice from LME, Kolkata and Delhi centres.

In the non-ferrous segment (per quintal), copper wire bar and lead ingot was up by Rs 100 each in line with copper prices.

Similarly, aluminium ingots and zinc slab went up by Rs 100 and Rs 150 respectively owing to heavy demand from local dealers.

However, nickel cathode and tin slab were unchanged on small industrial demand in view of comfortable stocks arrivals from Kolkata.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 35,700, Copper utensils - Rs 32,200, Brass utensils - Rs 25,600, Brass cuttings - Rs 27,000 and Aluminium utensils - Rs 10,700.

Non-ferrous metals: Copper wire bars - Rs 38,800, Aluminium ingots - Rs 12,100, Zinc slab - Rs 16,200, Lead ingots - Rs 12,000, Tin slab - Rs 775 per kg and Nickel cathode - Rs 1,560 per kg.

UNI