Nickel recovers on renewed demand, global cues

Nickel prices recovered at the non-ferrous metal market here today on stockist buying amidst renewed demand from alloy industries on the back bullish London Metal Exchange (LME) cues.
The industrial metal was trading lower at the LME in early trade after central bankers in the United States and Europe suggested their policies would keep an easier bias, with nickel also strengthening.
Nickel climbed by Rs 5 per kg to Rs 1,215 from Wednesday's closing level of Rs 1,210.
Aluminium ingots moved up by Rs 2 per kg to Rs 165 from Rs 163.
Copper cable scrap and copper wire bar edged-up by Re 1 per kg each to Rs 484 and Rs 512, respectively.

However, copper scrap heavy, copper sheet cutting and zinc softened by Re 1 per kg each to Rs 474, Rs 459 and Rs 186.