Nickel down 1.30% on weak global cues
Subdued demand from alloy-makers affecred the trade
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Nickel futures for May declined by Rs 11.30, or 1.30%, to Rs 860.90 per kg in 2,888 lots.
At the Multi Commodity Exchange (MCX), the April contract shed Rs 11, or 1.27%, to Rs 852.80 per kg in 14,227 lots.
Prices moved down as speculators trimmed their positions.
Subdued demand from alloy-makers in domestic spot markets also weighed on the prices.
Weakening trend in base metals in the global market as data from China that missed economists' forecasts raised concern that demand from the biggest user is faltering affected the trade.
At the Multi Commodity Exchange (MCX), the April contract shed Rs 11, or 1.27%, to Rs 852.80 per kg in 14,227 lots.
Prices moved down as speculators trimmed their positions.
Subdued demand from alloy-makers in domestic spot markets also weighed on the prices.
Weakening trend in base metals in the global market as data from China that missed economists' forecasts raised concern that demand from the biggest user is faltering affected the trade.
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First Published: Apr 15 2013 | 2:31 PM IST