Nickels rebounds on sustained demand

Nickel prices rebounded smartly in an otherwise sluggish non-ferrous metal market here today on heavy stockist buying amidst sustained demand from alloy industries.
Meanwhile, select copper, brass, aluminium, zinc and lead prices declined further due to weak demand from industrial users.
The industrial metals edged-down at the LME, and was on track for its biggest weekly loss since April 2013 on expectations of ebbing demand growth in China, while risk aversion over escalating tensions in Ukraine also dampened sentiment.
Nickel shot-up by Rs 10 per kg to Rs 1,035 from Thursday's closing level of Rs 1,025.
Copper scrap heavy and copper utensils scrap inched-up by Re per kg each to Rs 477 and Rs 454.

However, copper sheet cutting and aluminium ingots dropped by Rs 4 per kg each to Rs 454 and Rs 148 from Rs 469 and Rs 152.
Brass sheet cutting and tin dipped by Rs 3 per kg each to Rs 358 and Rs 1,572 from Rs 361 and Rs 1,575, respectively.
Copper armiture, aluminium utensils scrap and zinc softened by a Re per kg each to Rs 470, Rs 127 and Rs 172.