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Select metals decline on stockists selling
Press Trust of India / Mumbai Aug 31, 2010, 17:18
 

Nickel, copper and brass prices declined at the non-ferrous metal market here today on the back of heavy stockists sell-off triggered by a bearish trend in the London Metal Exchange (LME).

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Meanwhile, aluminium and brass utensils scrap firmed up on increased demand from consumer industries.

Nickel plunged by Rs 25 per kilo to Rs 1,080 from Monday's closing level of Rs 1,105.

Copper cable scrap, copper scrap heavy and copper wire bar dropped by Rs 4 per kilo each to Rs 383, Rs 375 and Rs 411, as against Rs 387, Rs 379 and Rs 415, respectively.

Copper armiture and brass sheets cutting both moved down by Rs 2 per kilo to Rs 364 and Rs 265. Copper utensils scrap and copper sheets cutting softened by a rupee per kilo each to Rs 348 and Rs 360. 

However, aluminium utensils scrap rose by Rs 3 per kilo to Rs 93 and brass utensils scrap inched up by a rupee per kilo to Rs 259.

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