Metal prices rise on good industrial users demand

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Mumbai, Apr 17 (UNI) Both ferrous and non-ferrous metals today rallied on good industrial users demand and strong advice from London Metal Exchange (LME) along with Delhi, Kolkata, Indore and other centres, traders at the Bombay Metal Exchange (BME) said. In the ferrous metal category, copper heavy and copper utensils advanced by Rs 500 and Rs 200 per quintal respectively on speculative buying.

Brass utensils and brass cuttings also shot up by Rs 200 per quintal each on heavy demand from retailers.

However, aluminium uensils remained unchanged on moderate demand.

In the non-ferrous metal category an uptrend was seen as copper wire bars rose by Rs 400 per quintal and tin slab and nickel cathode also soared by Rs 20 per kg each on physical buying support.

However, zinc slab and lead ingot remained flat, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 37,000, copper utensils - Rs 33,100, brass utensils - Rs 25,400, brass cuttings - Rs 26,400 and aluminium utensils - Rs 11,200.

Non-ferrous metals: copper wire bars - Rs 40,400, aluminium ingots - Rs 14,400, zinc slab - Rs 12,400, lead ingots - Rs 13,100, tin slab - Rs 970 per kg and nickel cathode - Rs 1,400 per kg.


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