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Nickel strengthens on heavy demand

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Press Trust of India Mumbai
Nickel prices strengthened at the non- ferrous metal market here today on heavy stockists buying amidst sustained demand from alloy industries.

Elsewhere, select brass, zinc and lead prices also firmed up on higher offtake from industrial users.

The industrial metal edged higher at the LME in early trade, helped by a weaker dollar after holding steady last week as investors largely took the Fed's decision to start cutting its monetary stimulus in stride.

Nickel climbed by Rs 5 per kg to Rs 1,015 from last Saturday's closing level of Rs 1,010.

Brass utensils scrap gained by Rs 3 per kg to Rs 350 from Rs 347.
 

Zinc moved-up by Rs 2 per kg to Rs 167 from Rs 165 and lead inched-up by Re 1 per kg to Rs 139.

However, copper scrap heavy softened by Re 1 per kg to Rs 500.

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First Published: Dec 23 2013 | 4:36 PM IST

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