Nickel rebounds on heavy demand

Nickel prices rebounded smartly in an otherwise restricted non-ferrous metal market here today on sustained stockists buying amidst heavy demand from industrial users.
While, select copper edged up on mild offtake from consumer industries.
In overseas markets, the industrial metal copper slipped in early trade on a stronger dollar and worries over demand in top metals consumer China after weaker than expected trade data, with an upcoming US jobs report also in focus.
Nickel climbed by Rs 20 per kg to Rs 1,045 from Thursday's closing level of Rs 1,025.
Copper scrap heavy, copper armiture and copper sheet cutting inched-up by a Re per kg each to Rs 454, Rs 443 and Rs 435, respectively.

However, copper utensils scrap softened by a Re per kg to Rs 417.