Select metal prices rise on strong LME advice

Mumbai, Nov 5 (UNI) Prices of Copper utensils, Brass cuttings, nickel and tin in ferrous and non ferrous metals today rallied on sustained heavy industrial users demand in view of strong advice from London Metal Exchange (LME) along with Kolkata, Delhi and Indore centres, traders at the Bombay Metal Exchange (BME) said.

In the ferrous category (per quintal), Copper utensils and Brass untensils rose again by Rs 100 and Rs 300 respectively owing to better buying support. Brass cutting also shot up by Rs 100 because of lesser stock supply.

In the non-ferrous segment (per quintal), Copper wire bars, Lead ingot soared by Rs 100 and Rs 500 respectively on brisk demand from big dealers.

However, Tin slab and Nickel cathode too gained by Rs five and Rs 10 respectively due to lack of offers by stockists induced by firm advice from LME and Kolkata centres.

Following are the spot metal prices per quintal: Ferrous metals - Copper heavy: Rs 35,100, Copper utensils: Rs 31,700, Brass utensils: Rs 25,400, Brass cuttings: Rs 26,800 and Aluminium utensils: Rs 10,400.

Non-ferrous metals - Copper wire bars: Rs 38,300, Aluminium ingots: Rs 12,300, Zinc slab: Rs 15,500, Lead ingots: Rs 14,000, Tin slab: Rs 795 per kg and Nickel cathode: Rs 1,540 per kg.

UNI