Copper, zinc slab, lead, aluminium down on weak LME advice

Mumbai, Oct 31 (UNI) Prices of Copper, zinc slab, lead and aluminium in ferrous and non ferrous metals today declined again on sustained heavy offers by stockists in view of bearish advice from London Metal Exchange (LME) along with Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange (BME) said.

In the ferrous category (per quintal), copper heavy and copper utensils crashed by Rs 300 and Rs 400 respectively on thin fresh industrial users demand, induced by discouraging advice from Kolkata, Delhi and other centres. Aluminium utensils, Brass scrap utensils and brass cuttings also eased by Rs 100 each in line with copper.

In the non-ferrous segment (per quintal), copper wire bars and zinc slab too crashed by Rs 300 and Rs 300 respectively on poor industrial users demand in face of larger arrivals of stocks from upcountry centres.

Similarly, tin slab also slipped by Rs five on sustained heavy selling pressure by stock-holders and larger stock supplies.

Following are the spot metal prices per quintal: Ferrous metals - Copper heavy: Rs 35,300, Copper utensils: Rs 32,100, Brass utensils: Rs 25,400, Brass cuttings: Rs 26,500 and Aluminium utensils: Rs 10,600.

Non-ferrous metals - Copper wire bars: Rs 38,500, Aluminium ingots: Rs 12,300, Zinc slab: Rs 16,000, Lead ingots: Rs 13,500, Tin slab: Rs 795 per kg and Nickel cathode: Rs 1,540 per kg.

UNI