Nickel remains weak on global cues

Nickel prices fell further by Rs 2 per kg at the local non-ferrous metal market today largely on weakening global trend.
Traders said sentiment in nickel remained bearish after it fell from a six-week high in the overseas markets after a strike in Colombia was called-off and as London Metal Exchange stockpiles reached a record-high.
Meanwhile, nickel for delivery in three months fell 0.4 per cent to USD 16,577 a metric tonne on the LME.
In the national capital, nickel (4x4) declined further by Rs 2 to Rs 1,088-1,094 per kg.
Following are today's metal rates (in Rs per kg):

Zinc ingot 116-122, Nickel plate (4x4) 1,088-1,094, Gun metal scrap 227, Bell metal scrap 229, Copper mixed scrap 429, Chadri deshi 285.
Lead ingot 104, Lead imported 105, Aluminium ingots 164, Aluminium sheet cutting 165, Aluminium wire scrap 167 and Aluminium utensils scrap 164.