Nickel softens on weak global cues

Tracking a weak global trend, nickel prices eased by Rs 2 per kg at the non-ferrous metal market today.
However, other base metals after moving in a narrow range in limited deals, settled around previous levels.
Traders said sentiments in nickel turned bearish as it headed for a fourth weekly decline in global markets as China's biggest metals bourse moved to ease delivery constraints and Greece's debt crisis threatened prospects for Europe's economy.
Meanwhile, nickel for three-month delivery dropped 1.1 per cent to USD 12,065 a metric tonne on the London Metal Exchange.
In the national capital, nickel plate (4x4) fell by by Rs 2 to Rs 995-1,000 per kg.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 118-124, Nickel plate (4x4) Rs 995-1,000, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 406, Chadri deshi Rs 285.
Lead ingot Rs 112, Lead imported Rs 113, Aluminium ingots Rs 158, Aluminium sheet cutting Rs 159, Aluminium wire scrap Rs 161 and Aluminium utensils scrap Rs 158.