Nickel spurts on industrial demand, global cues

Image
Press Trust of India Mumbai
Last Updated : Nov 20 2014 | 3:50 PM IST
Nickel prices spurted in an otherwise sluggish non-ferrous metal market here today on stockist buying amidst rising demand from alloy industries.
Meanwhile, tin and select copper fell further following subdued offtake from consumer industries.
Globally, the industrial metal copper edged down in early trade, ahead of a November reading on the health of China's manufacturing sector, while nickel prices were supported by expectations of a supply shortage.
Nickel climbed by Rs 13 per kg to Rs 1,118 from Wednesday's closing level of Rs 1,105.
Brass sheet cutting edged-up by a Re per kg to Rs 340.
However, tin declined by Rs 5 per kg to Rs 1,475 from Rs 1,480.
Copper scrap heavy and copper sheet cutting moved down by Rs 2 per kg each to Rs 472 and Rs 452 from Rs 474 and Rs 454.
Copper cable scrap, copper utensils scrap and copper wire bar all softened by a Re per kg each to Rs 481, Rs 428 and Rs 509, respectively.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Nov 20 2014 | 3:50 PM IST

Next Story