Nickel spurts on industrial demand, global cues

Nickel prices spurted in an otherwise sluggish non-ferrous metal market here today on stockist buying amidst rising demand from alloy industries.
Meanwhile, tin and select copper fell further following subdued offtake from consumer industries.
Globally, the industrial metal copper edged down in early trade, ahead of a November reading on the health of China's manufacturing sector, while nickel prices were supported by expectations of a supply shortage.
Nickel climbed by Rs 13 per kg to Rs 1,118 from Wednesday's closing level of Rs 1,105.
Brass sheet cutting edged-up by a Re per kg to Rs 340.
However, tin declined by Rs 5 per kg to Rs 1,475 from Rs 1,480.

Copper scrap heavy and copper sheet cutting moved down by Rs 2 per kg each to Rs 472 and Rs 452 from Rs 474 and Rs 454.
Copper cable scrap, copper utensils scrap and copper wire bar all softened by a Re per kg each to Rs 481, Rs 428 and Rs 509, respectively.