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Higher global cues lift nickel

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Press Trust of India New Delhi
Last Updated : Dec 23 2015 | 3:02 PM IST
Tracking a firm global trend and pick-up in demand from consuming industries at domestic market, nickel prices rose by Rs 5 per kg at the non-ferrous metals market today.
Traders said buying activity in nickel picked up after it climbed in global markets, as the US economy expanded faster than estimated, boosting demand in the second-largest metals user.
Meanwhile, nickel for delivery in three month rose 0.9 per cent to USD 8,720 a metric tonne on the London Metal Exchange. Prices fell 2.8 per cent yesterday, their biggest drop since November 27.
In the national capital, nickel plate (4x4) rose by Rs 5 to Rs 845-850 per kg.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 96-102, Nickel plate (4x4) Rs 845-850, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 351, Chadri deshi Rs 295.
Lead ingot Rs 80, lead imported Rs 86, aluminium ingots Rs 142, aluminium sheet cutting Rs 138, aluminium wire scrap Rs 138 and aluminium utensils scrap Rs 136.

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First Published: Dec 23 2015 | 3:02 PM IST

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