Nickel gains on speculative buying

Print this page Posted on : 05-29-2007 by recycleinme.com

Base metals climbed on the wholesale non-ferrous metals market on Monday on renewed speculative buying by stockists and consuming industries triggered by firming advices from LME. Nickel plate 4x24, 9x9 and 4x24 were up by Rs 10 each at Rs 2,325-2,370, Rs 2,325 and Rs 2,325-2,385 per kg respectively.

Mumbai: Prices of nickel and lead firmed up on the local non-ferrous metal market on good industrial demand, while zinc and copper moved down due to lack of industrial support. Nickel firmed up by Rs 10 per kg to Rs2,250, lead by Rs 4 per kg to Rs 100, copper utensils scrap by Rs 2 per kg to Rs 311, copper sheets cutting by Rs 2 per kg to Rs 341, brass sheets cutting by Rs 2 per kg to Rs267 , aluminium ingots by Re 1 to Rs 142 per kg and aluminium utensils scrap by Re 1 to Rs 120 per kg. Zinc declined by Rs 4 per kg to Rs 191, copper cable scrap by Rs 3 per kg to Rs 352 and copper scrap heavy by Rs 3 per kg to Rs 347.

Source : Business Line