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Nickel prices fell by Rs 3 per kg at the local market today due to reduced industrial demand amid a weak global trend.
However, other base metals held steady in limited deals.
Traders said sentiments in nickel turned bearish after most base metals declined in global markets as data showed industrial profits grew at the slowest pace on record last year in China, adding to the speculation that demand in the largest consumer may contract.
Meanwhile, nickel for delivery in three months dropped 1.3% to USD 14,555 a metric tonne on the London Metal Exchange.
In the national capital, nickel (4x4) fell by Rs 3 to Rs 1,075-1,080 per kg.
Following are today's metal rates (in Rs per kg):
Zinc ingot 116-122, Nickel plate (4x4) 1,075-1,080, Gun metal scrap 227, Bell metal scrap 229, Copper mixed scrap 398, Chadri deshi 285.
Lead ingot 102, Lead imported 103, Aluminium ingots 164, Aluminium sheet cutting 165, Aluminium wire scrap 167 and Aluminium utensils scrap 164.
