 "Nickel down 0.5% on overseas trends, subdued demand")
Nickel prices dropped 0.57% to Rs 843.60 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 December dropped by Rs 5.20, or 0.57%, to Rs 843.60 per kg in a business turnover of 456 lots.
The January contract fell by Rs 4.20, or 0.49%, to trade at Rs 853.30 per kg in a turnover of 11 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 London Metal Exchange and subdued demand at the spot markets from alloy-makers and other consuming industries.
At the Multi Commodity Exchange, nickel for delivery in December dropped by Rs 5.20, or 0.57%, to Rs 843.60 per kg in a business turnover of 456 lots.
The January contract fell by Rs 4.20, or 0.49%, to trade at Rs 853.30 per kg in a turnover of 11 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 London Metal Exchange and subdued demand at the spot markets from alloy-makers and other consuming industries.
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