Copper wire bars and lead ingot decline

Mumbai, July 23 (UNI) Copper wire bars and lead ingot in non-ferrous metals category declined today by Rs 100 and Rs 200 per quintal respectively on sluggish demand by stockists and weak cues from London Metal Exchange (LME), traders at the Bombay Metal Exchange said.

Copper wire bars eased by Rs 100 closed at Rs 41,500 per quintal while lead ingot, which saw a massive rise of Rs 600 yesterday, fell by Rs 200 today to end at Rs 10,800 because of poor demand by industrial users.

Nickel cathode was slightly down by Rs 5 per kg on lack of demand.

Zinc slab further strengthened by Rs 300 to close at Rs 11,000 amid better buying support by stokists, traders said.

All the metals, in ferrous category, remained unchanged on scattered buying by industrial users, traders added.

Following are the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 38,100, copper utensils - Rs 35,300, brass utensils - Rs 25,300, brass cuttings - Rs 26,800 and aluminium utensils - Rs 11,600.

Non-ferrous metals: copper wire bars - Rs 41,500, aluminium ingots- Rs 15,000, zinc slab - Rs 11,000, lead ingots - Rs 10,800, tin slab - Rs 1,170 per kg and nickel cathode - Rs 1,120 per kg.

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