Nickel, tin, copper, lead slip again on weaker advice

Mumbai, Oct 18 (UNI) Prices of nickel, tin, copper and lead in ferrous and non ferrous metals drifted further lower today on sustained heavy offers by stockists due to bearish 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 brass scrap declined again by Rs 300 and Rs 100 respectively on poor industrial users demand in view of bearish advice from global and upcountry markets.

In the non-ferrous segment (per quintal), copper wire bars and lead ingot also dropped by Rs 400 and Rs 100 respectively on thin demand from industrial users, while aluminium ingot and zinc slab prices were down by Rs 100 each on better offers by stockists due to bearish advice from LME along with Kolkata, Delhi and southern centres. Nickel cathode and tin slab also crashed further by Rs 20 per kg and Rs four per kg respectively on poor industrial demand along with subdued advice from LME and Kolkata centres, dealers added.

Following are the spot metal prices per quintal: Ferrous metals - Copper heavy: Rs 35,400, Copper utensils: Rs 32,100, Brass utensils: Rs 25,400, Brass cuttings: Rs 26,800 and Aluminium utensils: Rs 10,700.

Non-ferrous metals - Copper wire bars: Rs 38,600, Aluminium ingots: Rs 12,400, Zinc slab: Rs 16,500, Lead ingots: Rs 13,800, Tin slab: Rs 806 per kg and Nickel cathode: Rs 1,580 per kg.

UNI