Metals fall on weak advice

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Mumbai, Nov 12 (UNI) Both ferrous and non-ferrous metals today declined heavily on poor demand, along with weak advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said.

In ferrous metals, copper heavy and copper utensils tumbled by Rs 800 and Rs 400 per quintal respectively, following sluggish demand by stockists.

After yesterday's gain of Rs 200, brass cutting fell by Rs 300 to close at Rs 19,000, on persistent offloading by stock holders.

Meanwhile, brass utensils and aluminium utensils remained unchanged on moderate demand, traders said.

In non-ferrous metal category, copper wire bars and zinc slab were down by Rs 700 and Rs 200 per quintal respectively, amid lack of fresh demand.

Nickel cathode too became cheaper by Rs ten per kg on poor demand by bulk consumers. Only tin slab, which declined yesterday by Rs ten, recovered by Rs five per kg on improved demand, traders added.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 25,100, copper utensils - Rs 23,700, brass utensils - Rs 18,300, brass cuttings - Rs 19,000 and aluminium utensils - Rs 9,600.

Non-ferrous metals: copper wire bars - Rs 28,400, aluminium ingots - Rs 11,800, zinc slab - Rs 7,000, lead ingots - Rs 8,800, tin slab - Rs 870 per kg and nickel cathode - Rs 740 per kg.


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