Key metals rise on firm advice from LME

Mumbai, Oct 15 (UNI) Prices of select ferrous and non ferrous metals rallied today on heavy industrial demand, induced by firm advice from London Metal Exchange along with Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange (BME) said.

In the ferrous category (per quintal), copper heavy, copper utensils and aluminium utensils increased between Rs 100 and Rs 500 on lack of offers by stockists in view of strong global advice from global and upcountry markets.

In the non-ferrous segment (per quintal), copper wire bars and lead ingot also rose by Rs 400 and Rs 300 respectively on brisk demand from industrial users, while aluminium ingot and zinc slab prices were up by Rs 100 and Rs 300 respectively on heavy industrial users demand due to bullish advice from LME along with Kolkata, Delhi and southern centres.

Tin slab and nickel cathode too rose by Rs five per kg each on better buying support.

Following are the spot metal prices per quintal: Ferrous metals - Copper heavy: Rs 36,000, Copper utensils: Rs 32,500, Brass utensils: Rs 25,600, Brass cuttings: Rs 27,100 and Aluminium utensils: Rs 10,800.

Non-ferrous metals - Copper wire bars: Rs 39,300, Aluminium ingots: Rs 12,400, Zinc slab: Rs 16,800, Lead ingots: Rs 13,800, Tin slab: Rs 810 per kg and Nickel cathode: Rs 1,625 per kg.

UNI