Metals up on better buying support

Mumbai, Feb 25 (UNI) Ferrous and non-ferrous metal categories rose further today amid strong advice from London Metal Exchange (LME) and better buying support from local dealers, traders at the Bombay Metal Exchange (BME) said.

In the ferrous metal category, copper utensils and brass cuttings advanced by Rs 300 per quintal, while copper heavy and brass utensils shot up by Rs 200 per quintal on improved demand.

However, aluminium utensils declined by Rs 100 per quintal due to sustained heavy selling pressure, traders added.

In the non-ferrous metal category, copper wire bars rose by Rs 100 per quintal, while zinc slab eased by Rs 100 per quintal on improved offers by stockists.

However, aluminium ingot and lead ingot remained steady on moderate demand.

Tin slab and nickel cathode moved up by Re 1 and Rs 10 per kg respectively on lesser stock supply.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,100, copper utensils - Rs 33,000, brass utensils - Rs 25,200, brass cuttings - Rs 26,000, aluminium utensils - Rs 11,000 per kg.

Non-ferrous metals: copper wire bars - Rs 39,400, aluminium ingots - Rs 13,200, zinc slab - Rs 12,900, lead ingots - Rs 13,500, tin slab - Rs 796 and nickel cathode - Rs 1,415 per kg.

UNI NV RN SKB1608