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Nickel declines on subdued demand

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Press Trust of India Mumbai
Last Updated : Oct 10 2014 | 4:32 PM IST
Nickel declined further at the non-ferrous metal market here today on sustained stockists selling amidst subdued demand from alloy industries.
Elsewhere, select copper, brass, aluminuium ingots and zinc also edged down due to lower offtake from consumer industries.
On the global front, the industrial metal slipped at the LME in early trade and was set to end little changed on the week, after worsening economic indicators from Germany rekindled global growth concerns that have cast a pall on the outlook for metals.
Nickel fell by Rs 5 per kg to Rs 1,150 from Thursday's closing level of Rs 1,155.
Copper cable scrap, copper armiture, copper wire bar, brass utensils scrap, brass sheet cutting, aluminium ingots and zinc softened by a Re per kg each to Rs 480, Rs 456, Rs 508, Rs 327, Rs 339, Rs 168 and Rs 186, respectively.

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First Published: Oct 10 2014 | 4:32 PM IST

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