Nickel, tin gain on bullish advice from LME

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Mumbai, Sep 8 (UNI) Prices of Nickel cathode and Tin slab, in non-ferrous metals category, recovered with a gain of Rs five per kg each today on lack of offers by stockists following better advices from global and domestic markets like London Metal Exchange (LME), Delhi, Indore and Kolkata, traders at the Bombay Metal Exchange (BME) said.

Nickel cathode and tin slab prices were quoted at Rs 1,035 per kg and Rs 1,100 per kg respectively on improved demand from industrial users induced by encouraging advices from LME along with Kolkata, Delhi, Indore and other centres.

Similarly, copper wire bars and aluminium ingots also gained by Rs 300 and Rs one respectively in line with nickel.

But zinc slab dropped by Rs 50 per quintal on thin buying support by local industrial users.

In ferrous metal segments (per quintal), Copper heavy and copper utensils rose by Rs 300 and Rs 600 respectively owing to bullish advice from LME along with Kolkata and Delhi centres. Brass utensils and brass cuttings gained by Rs 50 each on scattered buying support from local dealers. But aluminium utensils declined by Rs 200 on heavy stocks at the local markets and poor demand by local dealers, traders added.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 35,900, copper utensils - Rs 34,000, brass utensils - Rs 25,050, brass cuttings - Rs 26,350 and aluminium utensils - Rs 10,700.

Non-ferrous metals: copper wire bars - Rs 39,200, aluminium ingots- Rs 13,850, zinc slab - Rs 10,400, lead ingots - Rs 11,400, tin slab - Rs 1,100 per kg and nickel cathode - Rs 1,030 per kg.


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