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Nickel drops on subdued demand, global cues

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Press Trust of India Mumbai
Last Updated : Jan 30 2014 | 4:14 PM IST
Nickel prices dropped at the non-ferrous metal market here today on stockist selling amidst subdued demand from alloy industries.
Meanwhile, select copper, brass and aluminium prices edged up on good offtake from consumer industries.
The industrial metals declined at overseas, on slowdown in China's manufacturing data as well as the US Federal Reserve further stimulus tapering.
Nickel fell by Rs 5 per kg to Rs 993 from Wednesday's closing level Rs 998.
Copper scrap heavy moved-down by Rs 2 per kg to Rs 505 from Rs 507.
However, Brass sheet cutting and aluminium utensils scrap moved-up by Rs 2 per kg each to Rs 364 and Rs 128 from Rs 362 and Rs 126 respectively.
Copper sheet cutting and brass utensils scrap inched up by a Re per kg each to Rs 487 and Rs 355.

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First Published: Jan 30 2014 | 4:14 PM IST

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