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Nickel recovers on global cues

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Press Trust of India New Delhi
Last Updated : Mar 07 2014 | 3:36 PM IST
Nickel showed some strength and prices recovered by Rs 4 per kg on the local non-ferrous base metals market today largely on the back of a firming global trend.
Traders attributed the rise in nickel prices on firm global trend where the metal rose on concern that supply constraints will deepen as the US keeps pressuring Russia to back down on Ukraine.
Meanwhile, nickel for delivery in three months rose by 0.4 per cent to 15,530 dollar a metric tonne on the London Metal Exchange.
In the national capital, nickel (4x4) recovered by Rs 4 to Rs 1,059-1,060 per kg.
The following were today's metal rates per kg:
Zinc ingot 117-123, nickel plate (4x4) 1,059-1,060 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 438, chadri deshi 285.
Lead ingot 134, lead imported 132, aluminium ingots 146, Aluminium sheet cutting 147, aluminium wire scrap 149 and aluminium utensils scrap 146.

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First Published: Mar 07 2014 | 3:36 PM IST

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