Tin slab, nickel cathode, Copper wire bars down

Mumbai, May 30 (UNI) Price of tin slab, nickel cathode, copper heavy and copper wire bars in ferrous and non-ferrous metals segments suffered a setback today on panic selling pressure by stockists in view of weaker advice from London Metal Exchange (LME), along with Kolkata, Delhi and southern regions, traders at the Bombay Metal Exchange (BME) said here today.

In the ferrous metal category (per quintal), Copper heavy and brass utensils and brass cuttings declined by Rs 200, Rs 100 and Rs 100 respectively on sluggish demand from local dealers in view of discouraging advice from LME along with Delhi, Indore, Kolkata and other centres.

In the non-ferrous metal category (per quintal), copper wire bars eased by Rs 200, while aluminium ingots, zinc slab and lead ingots also dropped by Rs 100 each on poor demand from big industrial users, induced by bearish advice from London Metal Exchange (LME) along with Kolkata, Delhi and southern regions. Similarly, nickel cathode price also crashed by Rs 35 per kg on heavy offers by stockists, induced by bearish advice from London Metal Exchange along with Kolkata, Delhi, Indore and southern regions, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 37,200, copper utensils - Rs 33,300, brass utensils - Rs 25,200, brass cuttings - Rs 26,400 and aluminium utensils - Rs 11,400.

Non-ferrous metals: copper wire bars - Rs 40,600, aluminium ingots - Rs 14,800, zinc slab - Rs 11,300, lead ingots - Rs 11,400, tin slab - Rs 1,185 per kg and nickel cathode - Rs 1,205 per kg.

UNI AR OBB SKB1705