Aluminium Sole Gainer In Dull Market

Domestic / non-ferrous metals

Domestic non ferrous metals saw some movement last week in their prices. Aluminium ingots went up during the week to Rs 92 and ended the week on a higher note while its utersil scrap went up by Rs 2 to end the week at Rs 78 after opening at Rs 76.

Brass sheet cutting remained Rs 88 all through the week, unchanged from last week while its utersil scrap came off marginally to end the week at Rs 84.50 after opening at Rs 85.

Prices of heavy scrap of copper ended the week marginally lower at Rs 108 from Rs 109 at the beginning of the week while copper utersil scrap ended marginally lower at Rs 99 after keeping a price range of Rs 99.50 to Rs 99.

Bars of copper wire remained at Rs 129 all through the week unchanged from last week while lead ingots were at Rs 37 all through the week, also unchanged from last week.

Nickel cathodes kept a tight price range of Rs 536 to ts Rs 540, ending the on a higher note while tin slabs also increased and kept a Rs 15 range of Rs 305 to 315 all through the week, ending on a higher note.

Zinc slabs remained in a stagnant range of Rs 61.50 all through the week, unchanged from last week.

Asian aluminium premiums remained steady over the London Metal Exchange (LME) cash price at the week ended on wednesday. Last two weeks have seen the aluminum premiums rise in anticipation of premiums in Japan rising for its second quarter term premiums, by about $10 per tonne.

The aluminium premiums remained steady as Japanese premiums were in line with market expectations. On Wednesday, the term premiums were settled at $74 -$75 per tonne including cost, insurance and frieght to the nearest ports. In the spot market in japan, aluminium premiums eased to $74 to $75 per tonne from $78 -$80 per tonne from a week ago.

The Malaysian tin market fell to close lower on Friday. The fall was primarily due to a fall in the price on the LME ahead of profit taking before the weekend.

The depressed sentiment about the economy and political uncertainty also aided the metal