Nickel up, lead dips

DOMESTIC REVIEW/ NON-FERROUS METALS

Non-ferrous metals looked up last week in tune with the upward trend in the London Metals Exchange (LME).

While the rally in nickel is continuing, tin prices remained divergent. The only metal that witnessed a minor loss was lead.

The price of nickel cathodes closed at Rs 745 per kg on Monday, up slightly from last Monday's close of Rs 675.

Copper wire bars closed up at Rs 184 (Rs 181), while copper heavy scraps closed higher at Rs 153 (Rs 150). Copper utensil scraps ended higher at Rs 136 on Monday from last Monday's close of Rs 132.

Brass utensil scraps closed at Rs 108, up from last Monday's close of Rs 106. Brass sheet cutting closed at Rs 112.50, up by Rs 2 from last week.

Aluminium utensil scraps closed at Rs 81, up from last week's Rs 79.50. The price of lead ingots closed at Rs 52, up from Rs 53 last Monday. The price had fallen to Rs 52 on last Wednesday.

The price of aluminium ingots closed at Rs 102, up by Rs 2 from last week. Zinc slabs closed higher at Rs 75 from last week's Rs 74.50.

Tin slabs closed unchanged at last week's level of Rs 518 on Monday. The price had fallen to Rs 515 on Tuesday but rose to Rs 521 on Wednesday. It fell to Rs 515 again on Thursday before rising to Rs 520 on Saturday.