Markets follow global lead

MARKET REVIEW: DOMESTIC\NON-FERROUS METALS

Prices of non-ferrous metals in the domestic market rose following the trend in international prices.

Nickel cathodes closed at Rs 796 per kilogram on Thursday, up Rs 21 from last week's close of Rs 775. It remained steady till Friday, after which it rose to Rs 795 on Wednesday, before rising to Rs 796 on Thursday.

Copper wire bars closed at Rs 161 on Thursday up Rs 7 from last Thursday. Copper heavy scraps closed at Rs 145 up from Rs 137 last week.. It rose to Rs 140 on Monday, Rs 144 on Wednesday and a final Rs 1 today.

Copper heavy utensil scraps ended trade at Rs 125 from Rs 118 last Thursday. It remained steady till Saturday before rising to Rs 121 on Monday and further by Rs 4 on Thursday.

Brass utensil scraps closed at Rs 98, a gain from last Thursday's Rs 94. Brass sheet cutting closed at Rs 104 from last Thursday's Rs 100. The price rose to Rs 101 on Monday and then by Rs 3 more on Thursday.

Aluminium utensil scraps closed Rs 2 up at Rs 76 from last week. Lead ingots remained steady at Rs 46 all of last week.

Aluminium ingots traded at Rs 96 and zinc slabs at Rs 75 from last Thursday's Rs 74.50. The price rose on Monday.

Tin slabs closed up at Rs 391 from last week's Rs 385. It fell to Rs 380 on Friday, then rose Saturday onwards.

In the futures market the price of lead in the March contract on National Multi Commodity Exchange (NMCE) closed at Rs 45.20 up from Rs 45.10 last Thursday.

It hit intra-week high of Rs 45.70 on Friday. The volume of trade on Tuesday stood at 1288 grams with 24 trades. There were no open positions.