Nickel rises on higher demand

MUMBAI: Nickel prices rose in an otherwise mute non-ferrous metal market here today on stockist buying amidst higher demand from alloy industries.

Meanwhile, copper scrap heavy eased due to lower off take from consumer industries.

The industrial metal edged up at the LME, as a weaker dollar granted some relief to commodities ahead of this week's jobs report that may shed fresh light on US plans to scale back stimulus.

Nickel climbed by Rs 5 per kg to Rs 1,000 from Tuesday's closing level of Rs 995.

Brass sheet cutting inched-up by a Re per kg to Rs 354. However, copper scrap heavy moved down by Rs 2 per kg to Rs 493 from Rs 495.