Ferrous, non-ferrous metals crash

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Mumbai, Oct 11 (UNI) The downward march in both ferrous and non-ferrous metals continued for the third straight day today on lack of demand, traders at the Bombay Metal Exchange (BME) said.

In ferrous metals, copper heavy and copper utensils crashed by Rs 1,300 and Rs 900 per quinal respectively, following sustained heavy selling pressure from stockists.

Even brass utensils also slid by Rs 500 to end at Rs 23,000 per quintal on persistent offloading by stock holders.

Brass cuttings and aluminium utensils also inched down by Rs 100 per quintal each on lack of fresh demand from bulk consumers.

Finally, brass cuttings and aluminium utensils ended at Rs 24,400 and Rs 10,400 per quintal, traders said.

In non-ferrous metals negative sentiment was registered as copper wire bars fell by Rs 1,400 per quintal.

Zinc slab and lead ingot also dipped by Rs 200 and Rs 300 per quintal respectively.

Finally, zinc slab and lead ingot ended at Rs 9,400 and Rs 9,700 per quinal respectively amid absence of demand from industrial users.

Tin slab and nickel cathode also became cheaper by Rs 30 per kg each on improved offers by stockists, traders added.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 30,800, copper utensils - Rs 29,100, brass utensils - Rs 23,000, brass cuttings - Rs 24,400 and aluminium utensils - Rs 10,400.

Non-ferrous metals: copper wire bars - Rs 33,900, aluminium ingots - Rs 12,800, zinc slab - Rs 9,400, lead ingots - Rs 9,700, tin slab - Rs 850 per kg and nickel cathode - Rs 770 per kg.


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