 "Nickel falls by 0.1% due to record stockpiles")
Nickel prices fell by 0.15% to Rs 807.70 per kg in futures market today as speculators reduced positions on weak cues from global markets amid sluggish demand from alloy-makers in domestic spot market.
At the Multi Commodity Exchange, nickel for delivery in current month traded lower by Rs 1.20, or 0.15%, at Rs 807.70 per kg in a business turnover of 1,854 lots.
Likewise, the metal for delivery in March lost Rs 1.70, or 0.09%, at Rs 798.80 per kg in 2,378 lots.
Meanwhile, stockpiles tracked by the London Metal Exchange (LME) have grown 53% in the last 12 months to a record 435,048 metric tonnes, according to bourse data.
Globally, nickel for delivery in three months at the LME fell to $12,400 a tonne, the lowest since May 2009.
At the Multi Commodity Exchange, nickel for delivery in current month traded lower by Rs 1.20, or 0.15%, at Rs 807.70 per kg in a business turnover of 1,854 lots.
Likewise, the metal for delivery in March lost Rs 1.70, or 0.09%, at Rs 798.80 per kg in 2,378 lots.
Also Read
Analysts attributed the fall in nickel prices in futures trade to a weak trend in overseas markets where the metal declined to the lowest in almost six years amid record stockpiles and weakening demand outlook in China.
Meanwhile, stockpiles tracked by the London Metal Exchange (LME) have grown 53% in the last 12 months to a record 435,048 metric tonnes, according to bourse data.
Globally, nickel for delivery in three months at the LME fell to $12,400 a tonne, the lowest since May 2009.
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%