Ferrous

Mumbai, Sep 24 (UNI) Ferrous and non-ferrous metals fell today on heavy selling pressure by stockists in view of weak advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said.

In ferrous metals, copper utensils, which rose yesterday by Rs 200, eased today by Rs 200 on sluggish demand by bulk consumers and closed at Rs 34,500.

Similarly, brass utensils and brass cuttings were down by Rs 100 per quintal each, amid lower buying support.

Brass utensils and brass cuttings finished at Rs 25,300 and Rs 26,300.

However, copper heavy and aluminium utensils remained flat on scattered buying by stockists, traders said.

In non-ferrous metals, copper wire bars and lead ingot also moved down by Rs 100 per quintal each on lack of fresh demand by stockists along with bearish trend from LME.

After easing by Rs 100, both copper wire bars and lead ingot ended at Rs 40,100 and Rs 10,500 per quintal respectively Zinc slab was up by Rs 100 due to improved demand and closed at Rs 10,400 per quintal.

Tin slab and nickel cathode remained unaltered on moderate demand by industrial users, traders added.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,900, copper utensils - Rs 34,500, brass utensils - Rs 25,300, brass cuttings - Rs 26,300 and aluminium utensils - Rs 10,900.

Non-ferrous metals: copper wire bars - Rs 40,100, aluminium ingots- Rs 13,100, zinc slab - Rs 10,400, lead ingots - Rs 10,500, tin slab - Rs 1,075 per kg and nickel cathode - Rs 995 per kg.

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