Ferrous metals recover on good industrial demand

Mumbai, Jan 19 (UNI) Ferrous metals recovered today on good industrial demand in domestic centres like Delhi and Kolkata, traders at the Bombay Metal Exchange (BME) said.

In the ferrous metal category, copper utensils and brass utensils soared by Rs 200 per quintal owing to increase of demand. Copper heavy, brass cutting and aluminium utensils also hiked by Rs 100 per quintal due to reduced stock supply.

In the non-ferrous metal category, copper wire bar shot up by Rs 100 per quintal amid fresh buying support, while zinc slab declined by Rs 100 per quintal on poor buying support, traders said.

Tin slab eased by Rs 2 per kg on lack of demand while nickel cathode inched up by Rs 20 per kg due to improved demand.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 33,800, copper utensils - Rs 31,700, brass utensils - Rs 24,900, brass cuttings - Rs 25,500 and aluminium utensils - Rs 10,600 per kg.

Non-ferrous metals: copper wire bars - Rs 37,000, aluminium ingots - Rs 12,100, zinc slab - Rs 12,500, lead ingots - Rs 11,500, tin slab - Rs 781 and nickel cathode - Rs 1,400 per kg.

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