Mild downward trend

MARKET REVIEW

Non-ferrous metals continued on the lacklustre path, following closely the trend on the London Metals Exchange (LME).

In the domestic market, nickel cathodes closed at Rs 720 per kilogram on Monday, down from last Tuesday's close of Rs 728. The price fell to Rs 720 on Friday and remained steady.

Copper wire bars closed at Rs 185 the same as last week. The price fell by Rs 1 on Tuesday and remained flat through Friday.

Copper heavy scraps closed down by Rs 2 at Rs 63 from Rs 65 the previous week. Copper utensil scrap eased to Rs 141 from Rs 142 last week. The price touched Rs 143 on Wednesday briefly before falling back again.

Brass utensil scraps displayed the same trend as well and closed at Rs 107. The price fell from Rs 108 last week, on Saturday. Brass sheet cutting closed at Rs 117, the same as last. The price briefly rose on Wednesday before falling. Aluminium utensil scraps and lead ingots closed fairly steady as well at Rs 82.25 and 53 respectively. Aluminium ingots closed at Rs 98.50.

Zinc slabs slipped to Rs 66 from last week's Rs 68. Tin slabs closed at Rs 520, down from last week's Rs 524. Copper light scraps closed at Rs 163, from Rs 165 last Tuesday. Copper sheet cutting traded at Rs 155 from Rs 152.50 on Tuesday while copper armature wire closed lower at Rs 151 from last week.