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Nickel strengthens on industrial demand, global cues

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Press Trust of India New Delhi
Last Updated : Dec 07 2015 | 2:48 PM IST
Nickel prices firmed up by Rs 2 per kg at the non-ferrous metal market today following pick-up in demand from consuming industries and a firming trend overseas.
Traders said besides increased demand from consuming industries, a firming trend in metal at the London Metal Exchange (LME) after a report that Eramet SA plans to end nickel matte output in New Calendonia, mainly led to rise in nickel prices.
At the LME, nickel, used to make stainless steel, climbed 1.3 per cent to USD 9,100 per tonne.
In the national capital, nickel plate (4x4) rose by Rs 2 to Rs 852-857 per kg.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 100-106, Nickel plate (4x4) Rs 852-857, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 344, Chadri deshi Rs 295.
Lead ingot Rs 82, lead imported Rs 88, aluminum ingots Rs 142, aluminum sheet cutting Rs 138, aluminum wire scrap Rs 138 and aluminum utensils scrap Rs 136.

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First Published: Dec 07 2015 | 2:48 PM IST

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