Metals ease further on thin buying support

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Mumbai, Mar 12 (UNI) Ferrous and non-ferrous metals declined further today on lack of fresh demand along with weak advice from London Metal Exchange (LME), traders at Bombay Metal Exchange (BME) said.

In the ferrous metal category, Copper heavy and Brass cuttings were down by Rs 300 per quintal each due to persistent offloading by stock holders, while Aluminium utensils soared by Rs 100 per quintal on good demand, traders added.

However, Brass utensils remained flat on moderate demand.

In the non-ferrous metal category, Copper wire bar, Zinc slab and Lead ingot registered a downward trend.

Copper wire bar fell by Rs 300 per quintal while Zinc slab and Lead ingot also dipped by Rs 100 per quintal each because of sluggish demand by bulk consumers.

Tin slab and Nickel cathode also edged down by Rs 7 and Rs 15 per kg on lower buying support.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,000, copper utensils - Rs 32,800, brass utensils - Rs 25,200, brass cuttings - Rs 26,200 and aluminium utensils - Rs 11,700.

Non-ferrous metals: copper wire bars - Rs 39,400, aluminium ingots - Rs 15,000, zinc slab - Rs 13,700, lead ingots - Rs 13,000, tin slab - Rs 865 and nickel cathode - Rs 1,475 per kg.


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