Nickel weakens on muted demand

Nickel turned weak and traded lower by Rs 2 per kg at the non-ferrous metal market today, owing to slackened demand from consuming industries amid a weak trend overseas.
Traders said besides easing demand from consuming industries, a weak trend in global markets mainly influenced nickel prices.
Meanwhile, nickel for delivery in three months dropped 0.6 per cent on the London Metal Exchange.
In the national capital, nickel plate (4x4) shed Rs 2 to Rs 855-860 per kg.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 98-104, Nickel plate (4x4) Rs 855-860, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 378, chadri deshi Rs 295.

Lead ingots Rs 80, lead imported Rs 86, aluminium ingots Rs 155, aluminium sheet cutting Rs 151, aluminium wire scrap Rs 151 and aluminium utensils scrap Rs 149.