Zinc, nickel recover on stockists buying, global cues

Prices of zinc and nickel recovered by Rs 2 per kg on the local non-ferrous base metals market today on stockists buying in tandem with a firm global trend.
Traders said sentiment turned better after zinc climbed in global markets on speculation that demand will outstrip supply amid a decrease in stockpiles and slow growth in new supplies from mines.
Meanwhile, zinc for delivery in three months added 0.6 per cent to 2,054 dollar a metric tonne on the London Metal Exchange.
In the national capital, zinc ingot and nickel (4x4) rose by Rs 2 each to Rs 119-125 and Rs 1,061-1,062 per kg respectively.

The following are today's metal rates per kg:
Zinc ingot 119-125, nickel plate (4x4) 1,061-1,062 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 442, chadri deshi 285.
Lead ingot 136, lead imported 134, aluminium ingots 146, Aluminium sheet cutting 147, aluminium wire scrap 149 and aluminium utensils scrap 146.