Nickel advances on firm demand

Nickel prices advanced at the non-ferrous metals market here today on stockists' buying amid firm demand from alloy industries.

Elsewhere, copper sheet cuttings, brass utensils scrap and aluminium utensils also gained marginally owing to good demand from consuming industries.

While, select copper and brass sheet cuttings eased due to subdued demand from industrial users.

Nickel prices rose by Rs 5 to Rs 1,000 per kg from Monday's closing level of Rs 995 and aluminium utensils moved up by Rs 3 to Rs 128 per kg as against Rs 125.

Brass utensils scrap edged up by Rs 2 per kg to Rs 340 as compared to Rs 338 and copper sheet cuttings inched up by a rupee per kg to Rs 443.

However, copper utensils edged down by Rs 2 to Rs 419 per kg from Rs 421 yesterday.

Copper cable scrap, copper scrap heavy, copper billets and brass sheet cuttings softened by a rupee per kg each to Rs 453, Rs 448, Rs 481 and Rs 352, respectively.