Nickel gains on global cues

Print this page Posted on : 01-26-2008 by recycleinme.com

Lead,

copper and nickel prices gained Rs 3- 5 a kg in the non- ferrous metal market on Friday on higher London Metal Exchange advices amid increased demand. Tin prices eased by Rs 2 due to selling pressure. Copper wire scrap, copper super d rod, copper wire bar, copper mixed scrap and C C rod gained Rs 3 each to settle at Rs 328, Rs 351, Rs 348, Rs 305 and Rs 343 a kg respectively on better offtake. Lead ingot and lead imported also closed higher by Rs 2 each to settle at Rs 100 and Rs 135- 140 a kg respectively. Nickel plate ( 4x4) ( 9x9) and ( 4x24) too found fresh support and rose by Rs 5 each to settle at Rs 1,310- 1,410, Rs 1,315- 1,420 and Rs 1,320- 1,430 a kg respectively. Tin prices fell due to selling pressure and traded at Rs 793 from Rs 795 a kg.

Source : Business Line