Metals ease on weak advice from LME

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Mumbai, Feb 26 (UNI) Ferrous and non-ferrous metals were down today on weak advice from London Metal Exchange (LME) along with lower buying support from dealers, traders at the Bombay Metal Exchange (BME) said.

In the ferrous metal category, copper utensils and brass cuttings slid by Rs 600 and Rs 300 per quintal amid sluggish demand by bulk consumers. Brass utensils also fell by Rs 100 per quintal.

However, aluminium utensils rose by Rs 200 per quintal on lesser stock supply.

In the non-ferrous metal category, copper wire bars and zinc slab slipped by Rs 500 and Rs 100 per quintal on absence of demand.

However, aluminium ingots advanced by Rs 200 per quintal on fresh buying support.

Tin slab and Nickel cathode edged down by Re 1 and Rs 25 per kg amid persistent offloading by stock holders.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,500, copper utensils - Rs 32,400, brass utensils - Rs 25,100, brass cuttings - Rs 25,700, aluminium utensils - Rs 11,200 per kg.

Non-ferrous metals: copper wire bars - Rs 38,900, aluminium ingots - Rs 13,400, zinc slab - Rs 12,800, lead ingots - Rs 13,500, tin slab - Rs 795 and nickel cathode - Rs 1,380 per kg.


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