Mild gains in mixed market

DOMESTIC REVIEW/NON-FERROUS METALS

Non-ferrous metals in the domestic market saw modest gains in trading from the previous week. The gains witnessed earlier during the last week however, were backed by a strong US dollar but the market eventually saw a minor drop in prices caused by the slump in the international metals trade.

Nickel cathodes closed at Rs 765 per kilogram on Thursday, down Rs 30 from last Friday. Copper wire bars rose to Rs 175 from last Tuesday's close of Rs 167.

Copper heavy scraps closed at Rs 157 up from Rs 148 last week after touching Rs 158 Saturday. Copper heavy utensil scraps ended at Rs 134 Thursday from Rs 131 last Tuesday after peaking at Rs 134 Saturday.

Brass utensil scraps closed at Rs 103.50 on Thursday, from last week's Rs 103. Brass sheet cutting closed at Rs 108.50 (Rs 108).

Aluminium utensil scraps closed up at Rs 81.50 on Thursday from Rs 80 last week after a high of Rs 91 on Monday. Lead ingots closed at Rs 52 from last week's Rs 46.

Aluminium ingots closed unchanged at Rs 96 but zinc slabs rose to Rs 73 from Rs 69 last Friday. Tin slabs closed at Rs 385 from last week's Rs 390, peaking at Rs 395 Friday.

In the futures market, lead March contracts on National Multi Commodity Exchange (NMCE) was at Rs 44.80 against Rs 45 last Wednesday and intra-week low of Rs 44.90 over the weekend. May lead contract was unchanged at Rs 46.70. There were no open positions.