Ferrous

Mumbai, Nov 8 (UNI) A downward trend was seen in both ferrous and non-ferrous metals today due to lack of fresh demand by industrial users, traders at the Bombay Metal Exchange (BME) said.

In ferrous metals, copper utensils and copper heavy slashed by Rs 400 and Rs 200 per quintal to end at Rs 23,400 and Rs 25,500 per quintal respectively on poor demand by bulk consumers.

Similarly, brass utensils and brass cuttings also drifted lower by Rs 100 per quinal each on sustained heavy selling pressure by stockists.

While, aluminium utensils rose by Rs 200 per quintal on improved demand by stockists.

In non-ferrous metal category too the same trend was seen as copper wire bars and zinc slab eased by Rs 400 and Rs 200 per quntal respectively, due to persistent offloading by stock holders.

Nickel cathode also became cheaper by Rs five per kg to finish at Rs 755 as traders were keen to sell their stocks.

Other metals like aluminium ingot, lead ingot and tin slab remained unchanged, traders added.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 25,500, copper utensils - Rs 23,400, brass utensils - Rs 18,300, brass cuttings - Rs 19,000 and aluminium utensils - Rs 9,600.

Non-ferrous metals: copper wire bars - Rs 28,500, aluminium ingots - Rs 11,800, zinc slab - Rs 7,000, lead ingots - Rs 8,500, tin slab - Rs 880 per kg and nickel cathode - Rs 755 per kg.

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