Nickel slips on reduced demand

Nickel slipped at the non-ferrous metal market here today on stockists selling amid subdued demand from alloy industries.
Elsewhere, select copper, brass and zinc also edged down due to lower offtake from consumer industries.
On the global front, the industrial metal climbed in early trade after minutes of the latest Federal Reserve meeting doused fears of any early move to raise interest rates, potentially prolonging cheap capital for industry and investors.
Nickel fell by Rs 5 per kg to Rs 1,155 from Wednesday's closing level of Rs 1,160.
Copper armature moved down by Rs 2 per kg to Rs 457 as against Rs 459 yesterday.

Copper cable scrap, copper utensils scrap, copper wire bar, brass utensils scrap, brass sheet cutting and zinc softened by Re 1 per kg each to Rs 481, Rs 434, Rs 509, Rs 328, Rs 340 and Rs 187, respectively.