Home trades shadow LME trend

DOMESTIC REVIEW/ Non-ferrous metals

Non-ferrous metals continued to lose value in domestic markets, shadowing the fall on London Metal Exchange (LME) where the prices dipped due to concern over the possibility of the Chinese government introducing measures to curtail consumption of metals to cool its economy.

Nickel cathodes closed at Rs 605 per kilogram on Monday, down by Rs 45 from last Monday's close of Rs 650/kg. It faced the sharpest fall on Thursday, with a decline of Rs 35 in a single day to touch Rs 610/kg.

Copper wire bars closed lower by Rs 2 from last week to hit Rs 175/kg. Copper heavy scraps closed at Rs 148/kg, down from Rs 154/kg.

Copper utensil scraps ended trade at Rs 128/kg from Rs 134/kg. The price fall has continued.

Brass utensil scraps closed at Rs 100/kg, down from last week's Rs 104/kg. Brass sheet cutting closed at Rs 105/kg from last week's Rs 109/kg.

Aluminium utensil scraps closed at Rs 77/kg, down Rs 1. Lead ingots closed at Rs 49/kg, also down Rs 1 from last week.

Aluminium ingots closed at Rs 92/kg marginally down from last week. It remained steady through the week.

Zinc slabs remained constant through the week.

Tin slabs closed at Rs 452/kg, the same as last week. It had increased to touch Rs 455/kg after which it fell further.