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Nickel zooms on heavy demand, global cues

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Press Trust of India Mumbai
Nickel prices zoomed at the non-ferrous metal market here today on sustained stockists buying amidst heavy demand from alloy industries in the backdrop of higher global cues.

Elsewhere, tin, lead, zinc also rose due to good demand from consumer industries.

However, the industrial metal edged lower at the London Metal Exchange (LME) ahead of reading on China's manufacturing activity.

Nickel shot-up by Rs 47 per kg to Rs 1,222 from Tuesday's closing level of Rs 1,175.

Tin climbed by Rs 15 per kg to Rs 1,605 from Rs 1,590.

Zinc gained by Rs 3 per kg to Rs 177 from Rs 174.
 

Brass sheet cutting and lead moved-up by Rs 2 per kg each to Rs 364 and Rs 148 from Rs 362 and Rs 146.

Copper cable scrap and copper scrap heavy inched-up by a Re per kg each to Rs 491 and Rs 486, respectively.

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First Published: Apr 23 2014 | 5:37 PM IST

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