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Nickel extends losses on reduced demand

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Press Trust of India Mumbai
Nickel prices continued to fall in an otherwise listless non-ferrous metal market here today on stockists selling amidst reduced demand from alloy industries.

While, tin prices firmed up further owing to buying by stockists amidst sustained offtake from consuming industries.

In overseas markets, the industrial metal copper was trading steady in early trade, underpinned by a weaker US dollar after fresh evidence of a soft patch in the world's top economy and expectations that Beijing would step up stimulus to revive growth.

Nickel dropped by Rs 10 per kg to Rs 1,030 from Wednesday's closing level of Rs 1,040.

Brass sheet cutting softened by a Re per kg to Rs 327.
 

However, tin gained by Rs 5 per kg to Rs 1,250 as against Rs 1,245 yesterday.

Brass utensils scrap edged up by a Re per kg to Rs 318.

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First Published: May 14 2015 | 4:32 PM IST

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