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Nickel remains up on global cues

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Press Trust of India New Delhi
Nickel maintained its strength and prices traded Rs 4 per kg higher on the local non-ferrous base metals market, tracking a firming trend in the global market.

Other base metals including copper moved in a tight range on little doing and settled around previous levels.

Traders said sentiment in nickel remained firm as it climbed to a 19-month high in the overseas markets on concern that Indonesia's ore export ban is reducing supplies and as China's exports and imports unexpectedly rose in April.

Meanwhile, nickel for delivery in three months added 1.1 per cent to USD 18,849 a tonne, the highest level since October 2012 on the London Metal Exchange.
 

In the national capital, nickel (4x4) added Rs 4 to Rs 1,081-1,082 per kg.

The following were today's metal rates per kg:

Zinc ingot 117-123, nickel plate (4x4) 1,081-1,082 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 435, chadri deshi 285.

Lead ingot 126, lead imported 124, aluminium ingots 148, Aluminium sheet cutting 149, aluminium wire scrap 151 and aluminium utensils scrap 148.

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First Published: May 08 2014 | 3:06 PM IST

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