Nickel turns weak on lower global trend

Nickel prices fell by Rs 2 per kg at the local non-ferrous metals market today largely on weak global trend on rising global inventory.
Traders sentiment in nickel turned bearish after it dropped in global markets as the US Federal Reserve continued stimulus cuts and record inventory of the metal indicated ample supply.
Meanwhile, nickel for delivery in three months fell 2.4 per cent to 18,290 dollar a metric tonne on the London Metal Exchange.
In the national capital, nickel (4x4) shed Rs 2 to Rs 1,092-1,093 per kg.
Following are today's metal rates per kg:
Zinc ingot 109-115, nickel plate (4x4) 1,092-1,093 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 438, chadri deshi 285.

Lead ingot 117, lead imported 115, aluminium ingots 152, aluminium sheet cutting 153, aluminium wire scrap 155 and aluminium utensils scrap 152.