Nickel down 0.4% on global trends, subdued spot demand
Nickel for delivery in July traded lower by 0.41%
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Nickel futures today traded lower by 0.42% to Rs 828.70 per kg largely in tune with a weakening trend overseas amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in June weakened by Rs 3.50 paise, or 0.42%, to Rs 828.70 per kg in business turnover of 720 lots.
Similarly, nickel for delivery in July traded lower by Rs 3.30, or 0.41%, to Rs 834.30 per kg in 66 lots.
Globally, nickel dropped 0.3%, to $14,112 per tonne at the London Metal Exchange.
Market analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend overseas mainly weighed on nickel prices at futures trade here.
At the Multi Commodity Exchange, nickel for delivery in June weakened by Rs 3.50 paise, or 0.42%, to Rs 828.70 per kg in business turnover of 720 lots.
Similarly, nickel for delivery in July traded lower by Rs 3.30, or 0.41%, to Rs 834.30 per kg in 66 lots.
Globally, nickel dropped 0.3%, to $14,112 per tonne at the London Metal Exchange.
Market analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend overseas mainly weighed on nickel prices at futures trade here.
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First Published: Jun 19 2013 | 12:05 PM IST