Nickel moves up on industrial demand, global cues

NEW DELHI: Nickel prices rose by Rs 5 per kg on the local non-ferrous metals market today on pick-up in demand from alloy-makers amid a firm global trend.

Traders said besides pick-up in industrial demand and a firm global trend on speculation low prices will start to spur production cuts.

Meanwhile, nickel climbed 0.4 per cent to USD 15,258 a metric on the London Metal Exchange.

In the national capital, nickel (4x4) rose by Rs 5 to Rs 1,050-1,053 per kg.

The following are metal rates per kg: Zinc ingot 113-119, nickel plate (4x4) 1,050-1,053, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 415, chadri deshi 285.

Lead ingot 136, lead imported 134, aluminium ingots 138, sheet cutting 139, aluminium wire scrap 142 and aluminium utensils scrap 138.