Nickel slides on overseas cues

Taking weak cues from global markets and sluggish domestic demand, nickel prices fell by Rs 5 per kg at the non-ferrous metal market today.
However, other base metals held steady in restricted deals.
Traders said selling in nickel gathered momentum after it led industrial metals lower in the international markets as the Organization for Economic Cooperation and Development cut its global growth forecast and as stockpiles rose to a record.
Meanwhile, nickel for delivery in three months fell 1 per cent to USD 12,865 a tonne on the London Metal Exchange.
They said subdued demand from alloy-makers also influenced nickel prices.

In the national capital, nickel plate (4x4) dropped by Rs 5 to Rs 1,015-1,020 per kg.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 114-120, Nickel plate (4x4) Rs 1,015-1,020, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 404, Chadri deshi Rs 285.
Lead ingot Rs 106, Lead imported Rs 107, Aluminium ingots Rs 157, Aluminium sheet cutting Rs 158, Aluminium wire scrap Rs 160 and Aluminium utensils scrap Rs 157.