The non ferrous metals continued to see very little movement last week with only zinc seeing an upward movement of its prices. Zinc slabs went up from Rs 61.50 from last week to end at Rs 64 this week. Aluminium ingots remained range bound all through last week and ended at Rs 92 while its utersil scrap also remained unchanged at Rs 77.
Brass sheet cutting came off marginally at to end at Rs 88.25 from Rs 88.50 from last week while its utersil scrap also came off similarly from Rs 84.50 to Rs 84.25.
Heavy scraps of copper came off by half a rupee to Rs 109 from Rs 109.50 while the metal’s utensil scrap came off to Rs 100 from Rs 100.50. Bars of copper wire came off by a rupee to Rs 127 from Rs 128 from last week.
Lead ingots was at Rs 36.50 from last week’s Rs 37.50 while nickel cathodes was at Rs 501 from last week’s Rs 510. Tin slabs came off by Rs 2 to Rs 315 from last week’s Rs 317.
Asian aluminium premiums against the London Metal Exchange (LME) cash price were unchanged fr the week ended last wednesday. Premiums in Japan were quoted in the range of $70 to $73 a tonne against $70 to $75 a tonne from last week.
LME cash price was quoted at $1,354 a tonne. Premiums in China for alumiunium were around $81 to $88 per tonne.
According to news agencies, Malaysian tin ended lower due to selling pressure. Spot tin prices at the Kuala Lumpur Tin Market (KLTM) ended at $4,630 per tonne with maximum buyers form Malaysia, Japan and Europe.
Asian copper premiums in China over the LME cash price was comparitively high last week in conditions of tight supply and good demand. Demand in the chinese markets has considerably increased in the last few months but supplies have continued to remain tight.
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