Nickel strengthens on good offtake, global cues

MUMBAI: Nickel strengthened at the non- ferrous metal market here today on good stockist offtake as well as industrial demand on the back of higher global cues.

While, tin, lead, brass, select copper and aluminium eased on reduced demand from consumer industries.

The industrial metal nickel extended gains at the LME in early trade on supply concerns as Chinese consumers run down stocks given a ban on Indonesian ore exports, while copper clung close to two-month peaks on hopes China's financial reforms would shore up its slowing economy.

Nickel spurted by Rs 15 per kg to Rs 1,260 from Monday's close of Rs 1, 245.