Metals slide on heavy selling pressure

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Mumbai, Apr 9 (UNI) Both ferrous and non-ferrous metals today fell on heavy selling pressure by industrial users and negative cues from the London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said.

In ferrous metal category, copper utensils were down by Rs 300 per quintal because of thin buying support. Copper heavy and brass utensils also slid by Rs 100 per quintal each amid absence of demand.

However, brass cuttings and aluminium utensils remained flat on moderate demand.

In non-ferrous metals, copper wire bars and lead ingot were down by Rs 200 and Rs 100 per quintal respectively on persistent offloading by stock holders.

Tin slab and nickel cathode also dropped by Rs 5 per kg each.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,700, copper utensils - Rs 32,800, brass utensils - Rs 25,300, brass cuttings - Rs 26,300 and aluminium utensils - Rs 11,000.

Non-ferrous metals: copper wire bars - Rs 40,100, aluminium ingots - Rs 14,000, zinc slab - Rs 12,500, lead ingots - Rs 13,000, tin slab - Rs 915 and nickel cathode - Rs 1,365 per kg.


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