Metals rise on reduced stock supply

Mumbai, Jan 9 (UNI) Prices of both ferrous and non-ferrous metal categories today inched up on reduced stock supply from domestic centres like Delhi and Kolkata, traders at the Bombay Metal Exchange (BME) said.

In the ferrous-metal category, prices of Copper heavy and Copper utensils shot up by Rs 600 and Rs 400 per quintal because of fresh buying support. Brass cuttings and Brass utensils also moved up by Rs 200 and Rs 100 per quintal respectively owing to heavy demand from retailers.

However, Aluminium utensils fell by Rs 100 per quintal because of sustained heavy selling pressure.

In the non-ferrous metal categories, Copper wire bars and Aluminium ingot soared by Rs 300 and Rs 100 per quintal respectively due to improved demand.

Zinc slab and Lead ingot remained flat on moderate demand, while Nickel cathode and Tin slab rose by Rs 60 and Rs 3 per kg respectively, amid increase of demand, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 34,000, copper utensils - Rs 31,700, brass utensils - Rs 24,800, brass cuttings - Rs 25,600 and aluminium utensils - Rs 10,400 per kg.

Non-ferrous metals: copper wire bars - Rs 37,000, aluminium ingots - Rs 12,000, zinc slab - Rs 12,800, lead ingots Rs 12,000, tin slab - Rs 798 and nickel cathode - Rs 1,475 per kg.

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