Nickel hardens on rising demand

Nickel prices hardened at the non- ferrous metal market here today on heavy stockist buying amidst rising demand from alloy industries.
Elsewhere, tin also recovered smartly on good industrial offtake, while select copper and aluminium edged up on better demand from consumer industries.
The industrial metals gained at the LME ahead of key US monetary policy meeting later, while persistent worries over growth and credit markets in top user China dulled buying interest.
Nickel surged by Rs 10 per kg to Rs 1,070 from Tuesday's close of Rs 1,060 and tin climbed by Rs 7 per kg to Rs 1,575 from Rs 1,568.

Copper utensils scrap moved up by Rs 2 per kg to Rs 455 as against Rs 453, while copper cable scrap, copper scrap heavy, copper wire bar and aluminium utensils scrap all inched up by Re 1 per kg each to Rs 484, Rs 478, Rs 512 and Rs 126, respectively.
However, copper sheet cutting, brass utensils scrap and lead softened by Re 1 per kg each to Rs 469, Rs 347 and Rs 142.