Nickel Leads Price Gains
The domestic metals market continued to remain rangebound yet on a an upward swing following rise in base metal prices gloablly. While copper products wintessed a marginal price rise, nickel was the highest gainer.
Aluminium products lost marginally while zinc traded lost after fluctuating an a narrow range. Tin saw a rise in its prices.
Nickel Cathodes witnessed its price rising from Rs 523 to Rs 530 in the last ten days. Copper wire bars increased from Rs 127 to rs 129, copper utensil scrap increased from Rs 99 to Rs 100 and copper heavy scrap price rose from Rs 109.50 to Rs 110.
Brass utensil scrap and sheet cutting both were stagnant at Rs 85.50 and Rts 89.50, respectively, while lead ingots were steady at Rs 38. Zinc slabs after fluctuating settled at Rs 63 its weeks beginning price.
Tin slab lost from Rs 292 to Rs 290 while aluminium Ingots lost from Rs 93 to Rs 92 and aluminium utensil scrap also declined from Rs 80 to Rs 79.
Base metals were hit lower on Friday, with nickel the exception supported by the labour dispute at Russia