 "Nickel drop 0.7% on sluggish demand, global cues")
Nickel prices dropped 0.76% to Rs 828 per kg in futures trade today as speculators reduced their holdings on sluggish demand from alloy makers in the spot market and a weak trend overseas.
At the Multi Commodity Exchange, nickel for delivery in June dropped by Rs 6.30, or 0.76%, to Rs 828 per kg in a business turnover of 13,709 lots.
Similarly, nickel for delivery in July contracts shed Rs 6.20, or 0.74%, to Rs 834.10 per kg in a turnover of 290 lots.
Market analysts said besides, weak demand from alloy- makers in the spot market, a weak global trend after Federal Reserve Chairman Ben Bernanke said bond purchases may be reduced, and slowdown in China's manufacturing sector, mainly weighed on nickel futures here.
At the Multi Commodity Exchange, nickel for delivery in June dropped by Rs 6.30, or 0.76%, to Rs 828 per kg in a business turnover of 13,709 lots.
Similarly, nickel for delivery in July contracts shed Rs 6.20, or 0.74%, to Rs 834.10 per kg in a turnover of 290 lots.
Also Read
In the international market, nickel lost 1.9% to $13,938 per tonne.
Market analysts said besides, weak demand from alloy- makers in the spot market, a weak global trend after Federal Reserve Chairman Ben Bernanke said bond purchases may be reduced, and slowdown in China's manufacturing sector, mainly weighed on nickel futures here.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%