Metals remained stagnant in the domestic markets last week but globally metals remained tense on the London Metal Exchange as the LME was closely watching for data from US about the job scene in the month of September.
On the domestic front, prices of non ferrrous metals were more or less stagnant. Aluminium ingots were stagnant at Rs 92, aluminum utersil scrap was at Rs 77.
Brass sheet cutting fell from Rs 90 to Rs 89 and its utersil scrap fell from Rs 86 to Rs 85. Heavy scraps of copper maintained a marginal range of Rs 108 to Rs 107.
Copper utersil scrap fell from Rs 100 to Rs 99 while the copper wire bar feel from Rs 120 to Rs 117.25.
Lead ingots remained stagnant at Rs 37.25. Nickle cathodes moved down sharply from Rs 462 to Rs 450.
Tin slabs remained at Rs 288 after touching an intra week high of Rs 289. Zinc slabs fell from Rs 66 and Rs 64.
Non ferrous metals kept a tight range through the week and stumbled into negative territory on the LME as interest levels bottomed due to expectations of fresh data.
On the LME on Friday three month copper dipped to $1,456 a tonne, falling $ 17. Aluminium followed at $1303 against $ 1313 of its previous close and is expected to remain in the range of $1300/20 range Nikel lost its ground at $6610 while Tin ticks were down to $ 4180. Zinc dipped to $ 756.
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