Nickel softens on global cues

Nickel prices slipped by Rs 2 per kg at the local non-ferrous base metals market today on weak global trend.
However, other base metals remained unchanged on scattered enquiries from consuming industries.
Traders said sentiment in nickel turned bearish as the metal weakened in the global market after soaring to 27-month high on supply concerns.
Meanwhile, nickel for delivery in three months dropped 2.9 per cent to USD 20,400 per tonne, the biggest intra-day fall since April 15 on the London Metal Exchange.
In the national capital, nickel (4x4) fell by Rs 2 to Rs 1,093-1,094 per kg.
Following are today's metal rates per kg:

Zinc ingot 117-123, nickel plate (4x4) 1,093-1,094 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 435, chadri deshi 285.
Lead ingot 126, lead imported 124, aluminium ingots 148,Aluminium sheet cutting 149, aluminium wire scrap 151 and aluminium utensils scrap 148.