Metal prices decline further

Mumbai, Sep 26 (UNI) The downward trend in prices of ferrous and non-ferrous metals continued for the third consecutive day today, traders at the Bombay Metal Exchange (BME) today said.

In ferrous metals, copper heavy and copper utensils decreased by Rs 200 and Rs 100 per quintal respectively, on lack of fresh demand by stockists.

After declining by Rs 200 and Rs 100, copper heavy and copper utensils ended at Rs 36,500 and 34,300 per quintal respectively.

Brass utensils and brass cuttings also moved down by Rs 100 per quintal each following sustained heavy selling pressure and closed at Rs 25,100 and Rs 26,100 respectively.

Aluminium utensils, which remained steady for the last three days, became cheaper today by Rs 100 per quinal and finished at Rs 10,800.

In non-ferrous metals, copper wire bars further slashed by Rs 200 following poor offtake by stockists. Within three days it has slid by Rs 500.

Nickel cathode eased by Rs five per kg on low buying support, while tin slab recovered by Rs five per kg on improved demand by bulk consumers.

Other metals, including aluminium utensils, zinc slab and lead ingot remained flat on scattered buying by bulk consumers, traders added.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 36,500, copper utensils - Rs 34,300, brass utensils - Rs 25,100, brass cuttings - Rs 26,100 and aluminium utensils - Rs 10,800.

Non-ferrous metals: copper wire bars - Rs 39,700, aluminium ingots- Rs 13,100, zinc slab - Rs 10,300, lead ingots - Rs 10,500, tin slab - Rs 1,075 per kg and nickel cathode - Rs 975 per kg.

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