Nickel, zinc soften on weak global cues

Prices of nickel and zinc eased up to Rs 5 per kg at the local non-ferrous base metals market today on weak global trend.
Traders attributed the fall in nickel and zinc prices to a weak global trend where nickel dropped the most in a week, as China's move to have small banks to set aside more funds to avoid a cash shortfall may curb demand from the top user of metals.
Meanwhile, nickel for delivery in three months lost one per cent to USD 14,055 a tonne, the biggest slump since February 4 at the London Metal Exchange.
In the national capital, nickel (4x4) and zinc ingot fell by Rs 5 and Rs 2 to Rs 1,067-1,068 and Rs 119-125 per kg, respectively.

The following are today's metal rates per kg:
Zinc ingot 119-125, nickel plate (4x4) 1,067-1,068 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 444, chadri deshi 285.
Lead ingot 140, lead imported 138, aluminium ingots 146, Aluminium sheet cutting 147, aluminium wire scrap 149 and aluminium utensils scrap 146.