Nickel falls the hardest

MARKET REVIEW: Domestic/Non-ferrous metals

Non-ferrous metals had a lukewarm week in domestic trade with the dollar strengthening its position leading to losses in the London Metals Exchange (LME).

In the domestic market, nickel touched its lowest price in the year during the week. Brass however witnessed some gains in the trade.

The price of nickel cathodes closed at Rs 650 per kilogram on Tuesday, down by Rs 30 from last Monday's close of Rs 680/kg. The price fell to Rs 475/kg on Tuesday.

Copper wire bars closed higher by Rs 1 from last week to hit Rs 177/kg. Copper heavy scraps closed at Rs 154 down from Rs 157 last week.

Copper utensil scraps ended trade at Rs 134 from Rs 136 last last week. The price fell by Rs 1 on Wednesday where it remained constant till Saturday.

Brass utensil scraps closed at Rs 104 , a rise from from last Monday's Rs 99. It rose to Rs 100 the next day and fell subsequently before rising once again steadily to touch the current close. Brass sheet cutting closed at Rs 109 from last Monday's Rs 103.

Aluminium utensil scraps closed at Rs 78 from Rs 80 last week. The price fell to 79 on Thursday. The price of lead ingots closed at Rs 50, the same as last week. It witnessed a minor rise to Rs 51 mid-week before falling back once again.

The price of aluminium ingots closed at Rs 93 marginally down by Rs 1 from last week. It rose to Rs 95 on Tuesday and fell again. It hit Rs 93 on Saturday, the price at which it remained till Tuesday's trade. Zinc slabs remained constant all of the week.

Tin slabs closed at Rs 452 from last week's Rs 475. The price subsequently fell to Rs 449 on Saturday. It closed slightly higher in Tuesday's trade.