Key metal prices ease on weaker advice from LME

Mumbai, Dec 4 (UNI) Prices of nickel cathode, copper heavy, copper utensils and lead ingots in ferrous and non-ferrous metal categories today drifted lower on sluggish industrial users' demand induced by bearish advice from London Metal Exchange (LMR) alang with Kolkata, Delhi, Indore and southern regions, traders at the Bombay Metal Exchange (BME) said.

In the ferrous category, (per quintal) copper heavy, and copper utensils eased by Rs 300 and Rs 200 respectively on poor demand by local industrial users induced by discouraging advice from LME and upcountry centres.

Brass utensils, Brass cuttings also dropped by Rs 400 each on moderate buying support by local dealers. However, aluminium utensils remained unchanged on scattered buying support from local dealers and lesser ready stocks at the domestic markets.

In the non-ferrous category, (per quintal), copper wire bars and lead ingots also edged down by Rs 400 and Rs 300 respectively owing to heavy selling pressure by stock-holders.

Similarly, Nickel cathode too eased by Rs 10 per kg in line with copper wire bars price.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 33,900, Copper utensils - Rs 31,400, Brass utensils - Rs 24,400, Brass cuttings - Rs 25,300 and Aluminium utensils - Rs 10,600.

Non-ferrous metals: Copper wire bars - Rs 37,100, Aluminium ingots - Rs 12,300, Zinc slab - Rs 13,500, Lead ingots - Rs 12,500, Tin slab - Rs 800 per kg and Nickel cathode - Rs 1,360 per kg.

UNI