Nickel declines on weak LME

Print this page Posted on : 09-27-2007 by recycleinme.com

Prices of nickel declined on the non-ferrous metal market on Wednesday on lack of industrial demand coupled with lower advices from the London Metal Exchange (LME). Brass sheet cutting and aluminium ingots also eased on lack of buying enquiries. Tin, copper, brass utensils scrap, aluminium utensils scrap and lead moved up on industrial demand. Nickel declined by Rs.20 per kg to Rs.1,560, brass sheet cutting by Re.1 per kg to Rs.270 and aluminium ingots by Re.1 per kg to Rs.122. Tin firmed up by Rs.5 per kg to Rs.775, copper sheets cutting by Rs.3 per kg to Rs.348, copper cable scrap by Rs.2 per kg t0 Rs.362 and copper armature by Rs.2 per kg to Rs.353. Copper scrap heavy, copper wire bar, brass utensils scrap, aluminium utensils scrap and lead also ended higher by Re.1 per kg each to Rs.356, Rs.389, Rs.257, Rs.108 and Rs.119 respectively.

Source : Business Line