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Thu Aug 21, 2008

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Moderate recovery in nickel prices on higher LME advices

Mumbai, Aug 07, 2008 (Asia Pulse Data Source via COMTEX) -- Prices of nickel recovered moderately on the non-ferrous metal market here today due to fresh industrial demand coupled with higher advices from London Metal Exchange (LME).

Elsewhere, tin, zinc and brass also moved up on mild industrial buying support.

While, copper eased in absence of demand from industrial users.

Nickel rose by Rs 25 per kilo to Rs 1,010, tin by Rs 5 per kilo to Rs 1,100, zinc by a rupee per kilo to Rs 104 and brass sheets cutting by a rupee per kilo to Rs 263.

However, copper cable scrap fell by Rs 2 per kilo to Rs 374, copper wirebar by Rs 2 per kilo to Rs 402, copper scrap heavy by a rupee per kilo to Rs 369 and copper sheets cutting by a rupee per kilo to Rs 361.


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