Nickel down 1.6% on sluggish demand, global cues
Nickel for delivery in July traded lower by 1.65%
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Nickel prices fell by 1.69% to Rs 822.50 per kg in futures trading today as speculators offloaded their positions, driven by sluggish demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in June fell by Rs 14.10, or 1.69%, to Rs 822.50 per kg in business turnover of 7,738 lots.
Similarly, nickel for delivery in July traded lower by Rs 13.80, or 1.65%, to Rs 829.30 per kg in 1,601 lots.
Marketmen said speculators offloaded their positions on the back of sluggish demand in the spot market.
Meanwhile, nickel lost 0.7% to $13,980 a tonne on the London Metal Exchange.
At the Multi Commodity Exchange, nickel for delivery in June fell by Rs 14.10, or 1.69%, to Rs 822.50 per kg in business turnover of 7,738 lots.
Similarly, nickel for delivery in July traded lower by Rs 13.80, or 1.65%, to Rs 829.30 per kg in 1,601 lots.
Marketmen said speculators offloaded their positions on the back of sluggish demand in the spot market.
Meanwhile, nickel lost 0.7% to $13,980 a tonne on the London Metal Exchange.
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First Published: Jun 24 2013 | 1:07 PM IST