Prices slip
MARKET REVIEW: DOMESTIC / METALS
| London Metals Exchange (LME) copper and aluminium dipped during the week following liquidation of positions by hedge funds, with the status-quo and uncertainty in price movement over the past week. |
| Locally, nickel cathodes closed at Rs 720 per kilogram, from Rs 760/kg last Monday. |
| Copper wire bars rose to Rs 207 from Rs 202 on Monday. Copper heavy scraps closed at Rs 179 on, from Rs 182 last week. Copper utensil scraps closed at Rs 157 from Rs 163 last week while brass utensil scraps was flat all week at Rs 118. |
| Brass sheet cutting fell by a rupee to close at Rs 126 from last Monday. |
| Aluminium utensil scraps closed unchanged from the previous week at Rs 83 after briefly rising 25 paise mid-week. Aluminium ingots slipped to Rs 101 from Monday's Rs 103.Lead ingots closed unchanged at Rs 54. |
| Zinc slabs rose to Rs 73 from last Monday's Rs 71. Tin slabs slipped to Rs 520 from Rs 533 last Monday. |
| Copper light scraps traded at Rs 168 from Rs 172 while copper sheet cutting dipped from Rs 169 to Rs 163. |