Nickel, zinc decline on reduced offtake

Nickel and zinc prices fell by Rs two per kg on the local non-ferrous metal market today on reduced offtake by consuming industries. 

Traders said reduced offtake by consuming industries and reports of weakening trend in global markets mainly led to decline in nickel and zinc prices.

While zinc fell 0.4 per cent to $2,486, nickel moved down by 1.1 per cent to $28,380 a tonne on the London Metal Exchange (LME).  

In the national capital, Zinc ingot shed Rs two to Rs 130.50. Similarly nickel (4x4), too, traded lower by the same margin to Rs 1,058-1,060 per kg.

Following were today's quotations in Rs per kg: 

Tin ingot 838, zinc ingot 130.50, nickel plate (4x4) 1,058-1,060, gun metal scrap 226 bell metal scrap 228, copper wire scrap 521, copper wire bar 544, copper mixed scrap 505, Utensil scrap 224, Chadripital 175

Lead ingot 139, lead imported 141, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102