Select metals up on firm advice from LME

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Mumbai, May 19 (UNI) Prices of key metals like copper, brass and aluminium today went up on sustained industrial users demand, along with strong advice from London Metal Exchange (LME), Kolkata, Delhi and others, traders at the Bombay Metal Exchange (BME) said.

In ferrous metal category, copper heavy and utensils were up by Rs 300 and Rs 100 per quintal respectively while brass utensils, brass cuttings and aluminium utensils also shot up by Rs 200, Rs 100 and Rs 100 per quintal respectively on renewed buying support in view of strong advice from LME, Kolkata and Delhi.

In non-ferrous metal category, prices of copper wire bars, aluminium ingot and zinc slab rose by Rs 200, Rs 300 and Rs 100 per quintal respectively, on reduced stock supply by stockists.

Nickel cathode gained by Rs five per kg on scattered demand from local dealers. But tin slab declined by Rs five per kg on sluggish demand by small industries, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 37,300, copper utensils - Rs 33,300, brass utensils - Rs 25,300, brass cuttings - Rs 26,600 and aluminium utensils - Rs 11,300.

Non-ferrous metals: copper wire bars - Rs 40,700, aluminium ingots - Rs 14,800, zinc slab - Rs 11,900, lead ingots - Rs 12,000, tin slab - Rs 1,185 per kg and nickel cathode - Rs 1,320 per kg.


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