Ferrous, non ferrous metals ease

Mumbai, Nov 18 (UNI) Ferrous and non-ferrous metals declined today, following low buying support alongwith weak advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said.

In ferrous metals, copper heavy and copper utensils dipped by Rs 300 and Rs 400 per quintal respectively, amid sustained heavy selling pressure by stockists. Brass utensils and brass cuttings also drifted lower by Rs 500 and Rs 700 per quintal respectively.

In non-ferrous metal category too a negative sentiment was seen, as copper wire bars slipped by Rs 400 to end at Rs 28,200 on persistent offloading by stock holders.

Lead ingot fell by Rs 100 per quintal and nickel cathode by Rs 10 per kg amid poor demand by local dealers. Aluminium ingot, zinc slab and tin slab remained unchanged on scattered buying by bulk consumers, traders added.

Following were the spot metal prices per quintal: Ferrous metals: copper heavy - Rs 25,200, copper utensils - Rs 23,700, brass utensils - Rs 17,300, brass cuttings - Rs 18,100 and aluminium utensils - Rs 9,500.

Non-ferrous metals: copper wire bars - Rs 28,200, aluminium ingots - Rs 11,700, zinc slab - Rs 7,200, lead ingots - Rs 8,900, tin slab - Rs 870 per kg and nickel cathode - Rs 750 per kg.

UNI NV RN NP1624