Nickel dips, copper prices up

Mumbai, June 25 (UNI) Prices of nickel cathode declined by Rs 10 to Rs 1,175 per kg, on weaker advice from London Metal Exchange (LME), coupled with poor demand from industrial users, while copper utensils and lead ingots ruled better on paucity of supply and strong advice from upcountry markets like Kolkata, Delhi and other centres, traders at the Bombay Metal Exchange said.

In ferrous metal category (per quintal), copper utensils and copper heavy gained by Rs 100 each, owing to reduced offers by stockists, in face of lesser stocks. Aluminium utensils dropped by Rs 100, on poor demand from industrial users. Rest of the prices remained unchanged on moderate buying support by local dealers.

In non-ferrous metals, copper wire bars gained by Rs 100, while Lead ingots rose by Rs 300, on renewed demand from local dealers.

But nickel cathode crashed by Rs 10 to Rs 1,175 per kg, on sustained selling pressure by stockists, induced by berish advice from LME and domestic centres like Kolkata and Delhi.

However, rest of the prices including that of tin slab remained steady on less demand from local dealers, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 38,100, copper utensils - Rs 34,200, brass utensils - Rs 25,200, brass cuttings - Rs 26,900 and aluminium utensils - Rs 11,300.

Non-ferrous metals: copper wire bars - Rs 41,500, aluminium ingots - Rs 14,900, zinc slab - Rs 10,200, lead ingots - Rs 10,700, tin slab - Rs 1,160 per kg and nickel cathode - Rs 1,175 per kg.

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