Nickel, zinc softens on weak global cues

Select base meals - nickel and zinc - weakened at the non-ferrous metal market today largely in tune with subdued global trend amid slackened demand at the domestic spot markets.
Traders said apart from a weak trend in base metals at the London Metal Exchange (LME)as weaker oil prices heightened concerns over the health of the global economy, fall in demand at the domestic spot markets from consuming industries, weighed on select base metal prices here.
Meanwhile, nickel for delivery in three months fell 1.2 per cent to USD 10,350 per tonne at the LME.
In the national capital, Nickel plate (4x4) fell by Rs 5 to Rs 847-852 per kg, while zinc ingot traded lower by Rs 3 to Rs 102-108 per kg.

However, copper mixed scrap rose by Rs 2 to Rs 379 per kg on industrial demand.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 102-108, Nickel plate (4x4) Rs 847-852, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 379, chadri deshi Rs 295.
Lead ingot Rs 90, lead imported Rs 96, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.