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Nickel remains firm on global cues

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Press Trust of India New Delhi
Last Updated : Apr 29 2014 | 2:51 PM IST
In thin trading, nickel maintained an upward trend and strengthened by another Rs 2 per kg on the local non-ferrous base metals market today, largely in tune with with a firming global trend.
Traders said sentiment in nickel remained bullish after it advanced to trade near at 14-month high in the overseas markets on concern that supplies will be reduced as tensions grew over Ukraine, while Indonesia's ore export ban remained in place.
Meanwhile, nickel for delivery in three months increased one per cent to USD 18,360 a tonne on the London Metal Exchange.
In the national capital, nickel (4x4) gained Rs 2 to Rs 1,076-1,077 per kg.
Following are today's metal rates per kg:
Zinc ingot 119-125, nickel plate (4x4) 1,076-1,077 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 436, chadri deshi 285.
Lead ingot 126, lead imported 124, aluminium ingots 148,Aluminium sheet cutting 149, aluminium wire scrap 151 and aluminium utensils scrap 148.

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First Published: Apr 29 2014 | 2:51 PM IST

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