Nickel slips on reduced industrial demand

Nickel prices slipped at the non-ferrous metal market here today on stockist selling amid reduced demand from alloy industries.
Elsewhere, brass, copper utensils scrap eased further owing to lower offtake from consumer industries.
In overseas markets, London copper edged lower in early trade and was on course for its biggest weekly decline since March, with prices unlikely to stage a sharp recovery unless Chinese demand picks up.
Copper has come off since hitting this year's peak of USD 6,481 a tonne in early May, touching a three-week low on Wednesday on account of a firmer dollar.
Nickel dropped by Rs 10 per kg to Rs 985 from Thursday's closing level of Rs 995.

Brass utensils scrap and brass sheet cutting moved down by Rs 2 per kg each to Rs 315 and Rs 325 from Rs 317 and Rs 327, respectively.
Copper utensils scrap and zinc softened by a Re per kg each to Rs 410 and Rs 187.
However, copper armiture and copper sheet cutting inched up by a Re per kg each to Rs 438 and Rs 432.