Nickel spurts on heavy demand

Nickel prices recovered sharply at the non-ferrous metal market here today due to sustained stockist buying amidst heavy demand from alloy industries.
Meanwhile, select copper, brass, aluminium and lead declined further on subdued demand from industrial users.
The industrial metals mostly traded steady at the LME, a day after it slid to 8-month low, on speculation that China's government is taking steps to soothe nerves jangled by a poor trade report that inflamed fears of flagging growth in the world's top user of metals.
Nickel surged by Rs 12 per kg to Rs 1,030 from Monday's closing level of Rs 1,018.

Tin climbed by Rs 3 per kg to Rs 1,580 from Rs 1,577.
However, copper scrap heavy, copper sheet cutting and aluminium ingots fell by Rs 3 per kg each to Rs 485, Rs 473, Rs 148 from Rs 488, Rs 476 and Rs 151.
Copper cable scrap and copper wire bar moved down by Rs 2 per kg each to Rs 492 and Rs 520 from Rs 494 and Rs 522.
Brass utensils scrap, brass sheet cutting, aluminium utensils scrap and lead softened by a Re per kg each to Rs 351, Rs 360, Rs 128 and Rs 142 respectively.