PTI reported that Nickel, brass and select copper prices declined at the nonferrous metal market on subdued demand from alloy as well as consumer industries. Meanwhile, brass utensil scrap and aluminum prices moved up on better offtake from industrial users.
The industrial metals traded mostly stable at the LME amidst cautiousness’s ahead European Union summit for resolving a crippling euro zone debt crisis. Nickel fell by INR 5 per kilo to INR 1,085 from its overnight closing levels of INR 1,090.
Copper utensil scrap and brass sheet cutting both edged down by INR 2 per kilo each to INR 413 and INR 308 as against INR 415 and INR 310. Copper sheet cutting also softened by a rupee per kilo to INR 427.
However, aluminum ingots gained by INR 3 per kilo to INR 130 brass utensil scrap by INR 2 per kilo to INR 301 and aluminum utensil scrap by a rupee per kilo to INR 108 respectively.
