Ferrous

Mumbai, Oct 16 (UNI) Ferrous and non-ferrous metals were down for the second day today on sluggish demand in view of bearish trend from London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said.

In ferrous metals, copper heavy and copper utensils were down by Rs 1300 and Rs 1100 per quintal on persistent offloading by stock holders. Finally, both the metals ended at Rs 30,600 and 27,900 per quintal respectively.

Even brass utensils also slipped by Rs 600 to end at Rs 22,900 per quintal amid thin buying support by bulk consumers.

However, brass cutting and aluminium utensils remained unaltered on scattered buyng by stockists.

In non-ferrous metals, negative sentiment was seen as copper wire bars and zinc slab shed Rs 1200 and Rs 400 per quintal respectively, on absence of demand by bulk consumers in view of weak global advices from LME.

Lead ingot too edged down by Rs 500 to end at Rs 9,500 per quintal on sluggish demand by industrial users.

Tin slab and nickel cathode also fell by Rs 50 and Rs 35 per kg respctively.

Finally, tin slab and nickel cathode closed at Rs 815 and Rs 795 per kg respctively amid persistent offloading by stock holders, traders added.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 30,600, copper utensils - Rs 27,900, brass utensils - Rs 22,900, brass cuttings - Rs 24,500 and aluminium utensils - Rs 10,400.

Non-ferrous metals: copper wire bars - Rs 33,900, aluminium ingots - Rs 12,800, zinc slab - Rs 9,000, lead ingots - Rs 9,500, tin slab - Rs 815 per kg and nickel cathode - Rs 795 per kg.

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