Metals up on renewed demand from stockists

Mumbai, Nov 4 (: An upward march was seen in both ferrous and non-ferrous metals today on renewed demand from stockists along with positive advice from London Metal Exchange (LME), traders at the Bombay Metal Exchange (BME) said.

In ferrous metals category (per quintal), copper heavy and copper utensils rose by Rs 200 per quintal each to end at Rs 31,900 and Rs 29,100 respectively due to lesser stock supply from industrial users.

Brass utensils and brass cutting also soared by Rs 200 and Rs 100 per quintal respectively to end at Rs 22,000 and Rs 22,600 on better buying support from stockists, traders said.

In non ferrous metals segment, copper wire bars and aluminium ingot advanced by Rs 200 and Rs 100 per quitnal respectively to finish at Rs 35,300 and Rs 10,800.

Similarly, zinc slab became costlier by Rs 100 per quintal and nickel cathode by Rs ten per kg because of sustained demand from stockists along with encouraging advice from LME, traders added.

Following were the spot metal prices per quintal in Rupees.

Ferrous metals: Copper heavy Rs 31,900, Copper utensils Rs 29,100, Brass utensils Rs 22,000, Brass Cuttings Rs 22,600 Aluminium utensils Rs 8,200.

Non ferrous metals: Copper wire bars Rs 35,300 Aluminium ingot Rs 10,800, Zinc slab Rs 12,300, Lead ingot Rs 10,300 Tin slab (per kg) Rs 840 Nickel cathode Rs 960.

--UNI

(c) 2009 Published with permission from United News of India.
Unauthorised publication of any content from NewKerala.Com is prohibited