Nickel declines on stockists selling

Print this page Posted on : 07-01-2010 by recycleinme.com

Mumbai, June 30

Led by nickel, most metals declined on the nonferrous metal market on Wednesday due to heavy stockists selling despite recovering trend on the London Metal Exchange ( LME). Nickel prices dropped further by Rs 15 a kg to Rs 1,075 and copper utensils scrap dipped by Rs 10 a kg to Rs 330. Tin, brass utensils scrap and copper scrap heavy all slipped by Rs 5 a kg each to Rs 940, Rs 250, Rs 354 respectively. Copper armature fell by Rs 4 a kg to Rs 349. Copper cable scrap, copper wire bar and brass sheet cutting all moved down by Rs 3 a kg each to Rs 360, Rs 388 and Rs 260. — PTI

Source : Business Line