 "Nickel down 0.1% on overseas trend, subdued demand")
Nickel prices dropped 0.08% to Rs 858.60 per kg in futures trade today, largely in line with a weakening trend at the London Metal Exchange and sluggish demand from alloy-makers in the domestic spot market.
At the Multi Commodity Exchange, nickel for delivery in January was down marginally by 70 paise, or 0.08%, to Rs 858.60 per kg in a business turnover of 445 lots.
The metal for delivery in February also fell by a similar margin to Rs 866.10 per kg in a turnover of 301 lots.
Market analysts said the fall in nickel prices at futures trade was mostly in tandem with a weakening trend in the base metals pack at the LME and subdued demand at the spot markets from alloy-makers and other consuming industries.
At the Multi Commodity Exchange, nickel for delivery in January was down marginally by 70 paise, or 0.08%, to Rs 858.60 per kg in a business turnover of 445 lots.
The metal for delivery in February also fell by a similar margin to Rs 866.10 per kg in a turnover of 301 lots.
Market analysts said the fall in nickel prices at futures trade was mostly in tandem with a weakening trend in the base metals pack at the LME and subdued demand at the spot markets from alloy-makers and other consuming industries.
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