Nickel remains weak on lower global cues

Nickel prices fell further by Rs 5 per kg at the non-ferrous metal market today largely on a weakening global trend.
Traders said sentiment in nickel remained bearish on the back of weak global trend where it tumbled to the lowest level in more than a decade as stainless-steel output in China slows amid forecasts for the weakest economic growth in a generation.
Meanwhile, nickel for delivery in three-month dropped 1.7 per cent to USD 8,800.00 a metric tonne, the lowest since July 2003 on the London Metal Exchange (LME).
In the national capital, nickel plate (4x4) lost another Rs 5 at Rs 875-880 per kg.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 102-108, Nickel plate (4x4) Rs 875-880, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 354, Chadri deshi Rs 295.
Lead ingot Rs 86, Lead imported Rs 92, Aluminum ingots Rs 142, Aluminum sheet cutting Rs 138, Aluminum wire scrap Rs 138 and Aluminum utensils scrap Rs 136.