Steady run

MARKET REVIEW/ DOMESTIC - BASE METALS

The local base metals market had a steady week with most prices remaining unchanged, following the lack of major activity on the London Metal Exchange (LME). Locally, the price of nickel cathodes rose to Rs 817.00 per kilogram, from Rs 819.00 on Monday.

Copper wire bars was at the same level as on previous Monday, which closed at Rs 210.00. Copper heavy scraps closed at Rs 176.00 on Monday as compared to Rs 177.00 last week. Copper utensil was up by Re 1 at Rs 157.00 from last week's close of Rs 156 last and brass utensil scraps closed lower at Rs 122 from Rs 124.00 last week.

Brass sheet cutting closed at Rs 130 on Monday from Rs 131.00 last week, and aluminium utensil scraps was down at Rs 86 from last week's price of Rs 86.50.

The price of aluminium ingots closed a tad lower at Rs 104.50 compared to last Monday's close of Rs 106.00 and lead ingots remained flat at Rs 52.00. Zinc slabs closed at Rs 80.50, down by 50 paise from last week. Tin slabs closed at Rs 475, Rs 5 higher than previous week's close of Rs 480.00.

Copper light scraps traded at Rs 170, down by Re 1 from last week's close of Rs 171. Copper sheet cutting closed at Rs 165.00, at the same level as the previous week's.