 "Nickel sheds 0.28% on overseas cues")
Tracking a weak global trend, nickel prices declined by 0.28 per cent to Rs 680.20 per kg in futures trade today as participants trimmed positions.
Besides, sluggish demand from alloy-makers in the domestic spot market fuelled the downtrend.
In futures trade at the Multi Commodity Exchange, nickel for delivery in October month fell Rs 1.90, or 0.28 per cent to Rs 680.20 per kg in business turnover of 1,150 lots.
Analysts attributed fall in nickel prices at futures trade to a weak trend in the base metals in global markets as demand is expected to continue to weaken in China despite the central bank's decision to cut interest rates for a sixth time in a year.
Globally, nickel for delivery in three months lost 0.4 per cent to USD 10,470 a metric tonne on the London Metal Exchange.
Besides, sluggish demand from alloy-makers in the domestic spot market fuelled the downtrend.
In futures trade at the Multi Commodity Exchange, nickel for delivery in October month fell Rs 1.90, or 0.28 per cent to Rs 680.20 per kg in business turnover of 1,150 lots.
Also Read
November nickel traded lower by Rs 1.30, or 0.19 per cent to Rs 687.20 per kg in 181 lots.
Analysts attributed fall in nickel prices at futures trade to a weak trend in the base metals in global markets as demand is expected to continue to weaken in China despite the central bank's decision to cut interest rates for a sixth time in a year.
Globally, nickel for delivery in three months lost 0.4 per cent to USD 10,470 a metric tonne on the London Metal Exchange.
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%