Nickel strengthened at the non- ferrous metal market here today on good stockist offtake as well as industrial demand on the back of higher global cues.
While, tin, lead, brass, select copper and aluminium eased on reduced demand from consumer industries.
The industrial metal nickel extended gains at the LME in early trade on supply concerns as Chinese consumers run down stocks given a ban on Indonesian ore exports, while copper clung close to two-month peaks on hopes China's financial reforms would shore up its slowing economy.
Nickel spurted by Rs 15 per kg to Rs 1,260 from Monday's close of Rs 1, 245.
However, tin fell by Rs 5 per kg to Rs 1,615 from Rs 1,620 and copper sheet cutting declined by Rs 3 per kg to Rs 475 as against Rs 478 previously.
Copper cable scrap, copper scrap heavy, copper wire bar, brass utensils scrap, brass sheet cutting, aluminium utensils scrap and lead all softened by Re per kg to Rs 494, Rs 489, Rs 522, Rs 347, Rs 360, Rs 128 and Rs 148 respectively.
