Nickel, zinc recover on renewed demand

Nickel, zinc, select copper and brass prices recovered smartly at the non-ferrous metal market here today on buying by stockists amid renewed demand from alloy industries.
While, tin declined owing to subdued demand from consumer industries.
At the global market, copper inched down in early trade, reversing gains from the previous session on concerns over global oversupply.
Copper is down 13 per cent so far this year on worries that the market is heading into a supply surplus after several years of deficit, and on slowing economic growth in China, which consumes nearly half the world's copper.
Nickel climbed by Rs 10 per kg to Rs 1,130 from last Saturday's closing level of Rs 1,120.

Zinc moved up by Rs 2 per kg to Rs 182 from Rs 180.

Copper cable scrap, copper wire bar and brass utensils scrap edged up by a Re per kg each to Rs 470, Rs 498 and Rs 325, respectively.
However, zinc fell by Rs 5 per kg to Rs 1,485 as against Rs 1,490 previously.
Copper utensils scrap and brass honey softened by a Re per kg each to Rs 424 and Rs 321.