Zinc, nickel rise on sustained demand, global cues

Zinc and nickel prices rose at the non-ferrous metal market here today due to stockist buying amidst sustained demand from alloy industries on the back of bullish London Metal Exchange (LME) cues.
Tin dropped on stockist selling on the back of subdued offtake from industrial users.
The industrial metal was trading higher at the LME, while nickel jumped more than 2 percent, adding to strong gains last week as a ban on unprocessed nickel laterite ore exports from top producer Indonesia came into effect, fanning a technical rally across other metals.
Nickel climbed by Rs 5 per kg to Rs 1,000 from last Saturday's closing level of Rs 995.

Zinc moved-up by Rs 4 per kg to Rs 172 from Rs 168.
Copper sheet cutting inched-up by a Re per kg to Rs 483.
Tin declined by Rs 7 per kg to Rs 1,533 as against Rs 1,540 previously.
Copper scrap heavy, brass utensils scrap, brass sheet cutting, aluminium ingots and lead all softened by a Re per kg each to Rs 502, Rs 354, Rs 360, Rs 148, Rs 137, respectively.