Nickel, Zinc, Copper, Brass dips again on weaker LME advice

Mumbai, Nov 21 (UNI) Prices of select metal like Nickel Cathode, Zinc slab, Copper heavy and Brass cuttings in ferrous and non ferrous metals suffered a set back for consecutive second day today on sustained heavy offers by stockists in view of discouraging 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 500 each while Brass utensils and Brass cuttings came down by Rs 500 and Rs 300 respectively on renewal increase in offers by stock-holders because of subdued advice from LME along with Kolkata, Delhi and other centres.

In Non-ferrous category, Copper wire bar and Zinc prices declined by Rs 500 each on thin industrial users demand.

Similarly, Nickel cathode too declined by Rs 30 per kg on weaker advice from global markets and better offers by stockists.

Following are the spot metal prices per quintal: Ferrous metals--Copper heavy: Rs 33,000, Copper utensils: Rs 30,500, Brass utensils: Rs 24,000, Brass cuttings: Rs 25,200 and Aluminium utensils: Rs 10,800.

Non-ferrous metals--Copper wire bars: Rs 36,500, Aluminium ingots: Rs 12,400, Zinc slab: Rs 13,500, Lead ingots: Rs 13,000, Tin slab: Rs 800 per kg and Nickel cathode: Rs 1,420 per kg.

UNI