Nickel jumps on consistent demand

Nickel prices jumped further at the non-ferrous metal market here today on hectic stockist buying amidst conistent demand from alloy industries.
Elsewhere, select copper, brass, aluminium surged on good demand from industrial users.
Meanwhile, tin slid on subdued offtake from consumer industries.
The industrial metals trading higher at the LME after Crimea's vote to join Russia passed relatively peacefully, but lingering concerns over credit markets and slowing growth in top consumer China cast shadow over demand.
Nickel rallied by Rs 35 per kg to Rs 1,060 from last Saturday's closing level of Rs 1,025 and copper sheet cutting climbed by Rs 5 per kg to Rs 470 from Rs 465.

Copper cable scrap, copper scrap heavy and copper wire bar rose by Rs 4 per kg each to Rs 483, Rs 477 and Rs 511 as against Rs 479, Rs 473 and Rs 507.

Copper armature and aluminium ingots both moved up by Rs 2 per kg each to Rs 473 and Rs 150 from Rs 471 and Rs 148.
Meanwhile, tin dropped by Rs 5 per kg to 1,568 from previous close of Rs 1,573 and Brass utensils scrap declined by Rs 3 per kg to Rs 348 from Rs 351.
Also, aluminium utensils scrap edged down by Rs 2 per kg to Rs 125 from Rs 127 and Copper utensils scrap softened by Re 1 per kg to Rs 453.