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Non ferrous metals down in India on sluggish demand


Central Chronicle reported that nonferrous metals were down owing to selling pressure from stockiest along with weak advice from London Metal Exchange.

Traders at the Bombay Metal Exchange said that in ferrous metals category, brass cuttings and aluminum utensils slipped by INR 200 per quintal each on thin demand from industrial users. No change was seen in brass utensils due to sporadic demand from local dealers.

Traders said that copper heavy rose by INR 200 per quintal on better buying support from stockiest. In nonferrous metals category, copper wire bars and zinc slab drifted lower by INR 100 per quintal each on poor demand amidst negative trend in LME.

They said that nickel cathode too lost by INR 5 per kilogram on scattered demand. Aluminum ingot, lead ingot and tin slab remained unaltered on scattered demand.

Following are the spot metal prices per quintal in Rupees; Copper heavy INR 46,400, Copper utensils INR 42,700, Brass utensils INR 31,500, Brass cuttings INR 32,200 and Aluminum utensils INR 10,800.

Copper wire bars INR 49,900, Aluminum ingots INR 13,800, Zinc slabs INR 13,000, Lead ingots INR 13,000, Tin slabs INR 1,640 and Nickel cathode INR 1,330.

(Sourced from www.centralchronicle.com)

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