Metals down on lower buying support from stockists

Mumbai, Nov 7 : A negative trend was seen in ferrous and non-ferrous metals today on sustained selling pressure from stockists, traders at the Bombay Metal Exchange (BME) said.

In ferrous metals segment, (per quintal), copper heavy and copper utensils down by Rs 100 per quintal each owing to persistent offloading by stock holders.

Brass utensils and brass cutting too reduced by Rs 100 per quintal each to end in the red at Rs 21,900 and Rs 22,700 respectively on lower buying support, traders said.

Sole, aluminium utensils rose by Rs 100 to Rs 8,300 per quintal on good demand from industrial users, traders said.

In non-ferrous metals category, copper wire bars and zinc slab slipped by Rs 200 per quintal each to Rs 35,000 and Rs 12,100 respectively, on lack of fresh demand from industrial users.

Nickel cathode also became cheaper by Rs 18 per kg to finish at Rs 937 per kg owing to sluggish demand, traders added.

Following were the spot metal prices per quintal in Rupees.

Ferrous metals: Copper heavy Rs 31,700, Copper utensils Rs 29,000, Brass utensils Rs 21,900, Brass Cuttings Rs 22,700 Aluminium utensils Rs 8,300.

Non ferrous metals: Copper wire bars Rs 35,000 Aluminium ingot Rs 10,800, Zinc slab Rs 12,100, Lead ingot Rs 10,300 Tin slab (per kg) Rs 850 Nickel cathode Rs 937.

--UNI

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