Nickel recovers on renewed demand

Business

Mumbai, July 12

Nickel recovered at the non-ferrous metal market here today on stockists’ buying amid renewed demand from alloy industries.

Elsewhere, copper scrap heavy, copper armature and copper sheet cuttings also rebounded marginally following fresh demand from industrial users.

While, copper utensils, brass sheet cuttings and zinc eased owing to lower demand from consuming industries.

Nickel regained by Rs 25 per kg to Rs 1,025 from Wednesday’s closing level of Rs 1,000.

Copper scrap heavy, copper armature and copper sheet cuttings inched up per kg each to Rs 456, Rs 451 and Rs 447, respectively.

However, copper utensils, brass sheet cuttings and zinc softened by Rs 2 per kg each to Rs 425, Rs 358 and Rs 208 as against Rs 427, Rs 360 and Rs 210 yesterday. PTI

 

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