Metals decline sharply on global cues

Print this page Posted on : 01-14-2010 by recycleinme.com

Mumbai, Jan. 13

Metals declined sharply on the non-ferrous metal market on Wednesday on heavy stockists offloading triggered by a steep fall in London Metal Exchange (LME). Aluminium ingot prices firmed up on renewed demand from consumer industries. Nickel dropped by Rs 17 a kg to Rs 895 and copper wire bar by Rs 7 a kg to Rs 391. Copper armature and copper sheets cutting fell by Rs 6 a kg each to Rs 348 and Rs 343 respectively. Copper scrap heavy, copper utensils and tin all dipped by Rs 5 a kg each to Rs 357, Rs 326 and Rs 940 respectively. Copper cable scrap slipped by Rs 4 a kg to Rs 363. Brass utensils scrap, brass sheets cutting and lead all moved down by Rs 3 a kg each to Rs 363, Rs 251 and Rs 259. Zinc also eased by Rs 2 a kg to Rs 138. Aluminium ingots rose by Rs 2 a kg to Rs 120. —PTI

Source : Business Line