Nickel declines on global cues

Print this page Posted on : 07-25-2008 by recycleinme.com

Prices of nickel, tin, copper, zinc, brass utensils and aluminium declined on the non-ferrous metal market on Thursday on lack of industrial demand coupled with lower advices from London Metal Exchange (LME). Lead and brass sheets cutting moved up on good demand from industrial users. Nickel dropped by Rs 20 a kg to Rs 1,100, tin by Rs 10 a kg to Rs 1,160 and copper sheets cutting by Rs 6 a kg to Rs 366. Copper cable scrap, copper armature, copper utensils scrap, copper wire bar, brass utensils scrap and zinc all ended lower by Rs 2 a kg each to Rs 385, Rs 374, Rs 351, Rs 413, Rs 251 and Rs 108 respectively. Copper scrap heavy also eased by Re 1 a kg to Rs 380 and aluminium utensils scrap by Re 1 a kg to Rs 115. Lead moved up by Rs 2 a kg to Rs 110 and brass sheets cutting by Re 1 a kg to Rs 269.

Source : Business Line