Non-ferrous metals decline

Mumbai, Feb 22 (UNI) Non-ferrous metals eased today because of weak advice from London Metal Exchange (LME) and lack of demand from local dealers, traders at the Bombay Metal Exchange (BME) said.

In the non-ferrous metal category, Copper wire bars and Aluminium ingot edged down by Rs 100 per quintal. Zinc slab also slashed by Rs 200 per quintal due to thin buying support.

However, Lead ingot rallied by Rs 300 per quintal on improved demand.

Tin slab remained unchanged while Nickel cathode rose by Rs five because of lesser stock supply.

The prices came down on poor demand by local dealers in view of large stock arrivals, traders informed.

In the ferrous metal group, Copper utensils went up by Rs 400 per quintal while Aluminium utensils and Brass utensils eased by Rs 200 per quintal and Brass cuttings also inched down by Rs 100 per quintal on susutained heavy selling pressure.

However, copper heavy remained flat, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 35,800, copper utensils - Rs 32,500, brass utensils - Rs 24,900, brass cuttings - Rs 26,100 and aluminium utensils - Rs 11,100 per kg.

Non-ferrous metals: copper wire bars - Rs 39,200, aluminium ingots - Rs 13,100, zinc slab - Rs 12,900, lead ingots - Rs 13,500, tin slab - Rs 792 and nickel cathode - Rs 1,415 per kg.

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