Nickel drops on lower demand

In a restricted activity, nickel prices dropped at the non-ferrous metal market here today on stockist selling amidst reduced demand from alloy industries.
Elsewhere, aluminium ingots and copper utensils scrap also eased on subued demand from consumer industries.
Meanwhile, zinc and brass sheet cutting edged-up on better offtake from industrial users.
The industrial metals slipped at LME, from one-week highs hit the session before, as traders showed caution ahead of expected major policy announcements from top consumer China.
Nickel declined by Rs 5 per kg to Rs 1,020 from Monday's closing level of Rs 1,025.
Aluminium ingots moved down by Rs 2 per kg to Rs 150 from Rs 152 and copper utensils scrap softened by Re 1 per kg to Rs 456.

However, zinc looked up by Rs 2 per kg to Rs 162 from Rs 160 and brass sheet cutting inched-up by Re 1 per kg to Rs 356.