Ferrous metals rise, while Non-ferrous metals ease

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Mumbai, Feb 5 (UNI) Ferrous metals rose today even as non-ferrous metals declined due to lack of demand, traders at the Bombay Metal Exchange (BME) said.

Hemand Parekh, Vice-President of Bombay Metal Exchange (BME), told UNI that ''there is a price variation in London market and hence we observed a mixed trend in both ferrous and non-ferrous metals. Another important thing is that China has increased import duty, msking ferrous metals costlier''.

In the ferrous metal category, Copper heavy and Brass cuttings rose by Rs 100 per quintal each on increase of demand. Aluminium utensils also shot up by 150 per kg due to lesser stock supply.

Copper utensils became cheaper by Rs 100 per quintal on absence of demand.

However, Brass utensils remained flat on moderate demand.

In the non-ferrous metal category, Copper wire bars and Zinc slab eased by Rs 100 per quintal on poor demand.

Tin slab and Nickel cathode also fell by Rs 6 and Rs 10 per kg respectively on lower buying support.

However, Aluminium ingot and Lead ingot remained steady.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 33,900, copper utensils - Rs 31,400, brass utensils - Rs 24,900, brass cuttings--Rs 25,500 and aluminium utensils - Rs 10,800 per kg.

Non-ferrous metals: copper wire bars - Rs 37,100, aluminium ingots - Rs 12,500, zinc slab - Rs 12,700, lead ingots - Rs 12,100, tin slab - Rs 783 and nickel cathode - Rs 1,390 per kg.


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