Nickel rebounds on global cues

Nickel prices recovered by Rs 2 per kg at the local non-ferrous base metals market today on fresh buying by stockists and firm global trend.
Traders said sentiment in nickel turned better on speculation that a global surplus will shrink amid a ban on exports of unprocessed ore in Indonesia and as US manufacturing beat estimates.
Meanwhile, nickel for delivery in three months added 0.3 per cent to USD 14,410 a tonne at the London Metal Exchange.
In the national capital, nickel (4x4) recovered by Rs 2 to Rs 1,062-1,063 per kg.
The following are today's metal rates per kg:

Zinc ingot 119-125, nickel plate (4x4) 1,062-1,063 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 444, chadri deshi 285.
Lead ingot 138, lead imported 136, aluminium ingots 146, Aluminium sheet cutting 147, aluminium wire scrap 149 and aluminium utensils scrap 146.