Nickel prices fall due to subdued demand

Nickel slipped at the non-ferrous metals market Tuesday on stockists' selling amid subdued demand from alloy industries. Elsewhere, copper and brass prices also eased due to sluggish demand from industrial users.

While zinc prices gained further owing to good demand from alloy industries. Nickel declined by Rs 15 per kg to Rs 980 from Monday's closing level of Rs 995. Copper cable scrap, copper billets, and copper sheet cuttings moved down by Rs 3 per kg each to Rs 460, Rs 488 and Rs 445 as against Rs 463, Rs 491 and Rs 448, respectively.

Copper utensils edged down by Rs 2 per kg to Rs 425 from Rs 427, yesterday. Copper armiture, brass utensils scrap, and brass sheet cuttings softened by a Re per kg each to Rs 449, Rs 343 and Rs 353. However, zinc rose by Rs 5 per kg to Rs 225 as compared Rs 220.