Mixed trend continues in metal prices

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Mumbai, Nov 4 (UNI) The mixed trend in ferrous and non-ferrous metals continued for the second consecutive day today, traders at the Bombay Metal Exchange (BME) said.

In ferrous metals, copper heavy and copper utensils, which rose yesterday, declined by Rs 600 and Rs 100 to end at Rs 26,200 and Rs 23,400 per quintal respectively, amid sluggish demand by stockists.

However, brass utensils and brass cuttings surged by Rs 800 and Rs 1,100 per quintal respectively, while aluminium utensils rose by Rs 600 per quintal on lesser stock supply by bulk consumers along with strong global advice from London Metal Exchange (LME).

In non-ferrous metal category, copper wire bars and zinc slab slipped by Rs 500 per quintal each amid persistent offloading by stock holders.

Meanwhile, Lead ingot edged up by Rs 500 per quintal and tin slab by Rs 15 per kg on sustained demand by bulk consumers, traders added.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 26,200, copper utensils - Rs 23,400, brass utensils - Rs 18,800, brass cuttings - Rs 19,600 and aluminium utensils - Rs 10,000.

Non-ferrous metals: copper wire bars - Rs 29,500, aluminium ingots - Rs 11,800, zinc slab - Rs 7,200, lead ingots - Rs 9,500, tin slab - Rs 845 per kg and nickel cathode - Rs 760 per kg.


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