Nickel down more than 1% on overseas trends
Prices dropped as speculators reduced their positions
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Nickel futures for June dropped by Rs 9, or 1.04%, to Rs 860.10 per kg in 2 lots.
At the Multi Commodity Exchange (MCX), the May contract fell by Rs 5.20, or 0.60%, to Rs 854.70 per kg in 1,672 lots.
Prices dropped as speculators reduced their positions.
Amid a weak trend in the global markets and subdued domestic demand,
Weakening trend in the base metals at the London Metal Exchange (LME) on concern that demand from China—the biggest user—would weaken after the International Monetary Fund cut its forecast affected the trade.
At the Multi Commodity Exchange (MCX), the May contract fell by Rs 5.20, or 0.60%, to Rs 854.70 per kg in 1,672 lots.
Prices dropped as speculators reduced their positions.
Amid a weak trend in the global markets and subdued domestic demand,
Weakening trend in the base metals at the London Metal Exchange (LME) on concern that demand from China—the biggest user—would weaken after the International Monetary Fund cut its forecast affected the trade.
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First Published: Apr 17 2013 | 2:25 PM IST