Nickel down more than 1% on weak overseas trend
Sluggish demand from alloy-makers triggered downtrend
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Nickel futures for April dropped by Rs 9.70, or 1.16%, to Rs 823.90 per kg in 3,710 lots.
At the Multi Commodity Exchange (MCX), the May contract also fell by Rs 9.70, or 1.15%, to Rs 831 per kg in 533 lots.
Prices dropped due to sluggish demand from alloy-makers in domestic spot market.
At the London Metal Exchange (LME), nickel dropped 1.60%.
Weakening trend in base metal pack at LME on demand concern as the International Monetary Fund (IMF) lowered its outlook for the global economy affected the trade.
At the Multi Commodity Exchange (MCX), the May contract also fell by Rs 9.70, or 1.15%, to Rs 831 per kg in 533 lots.
Prices dropped due to sluggish demand from alloy-makers in domestic spot market.
At the London Metal Exchange (LME), nickel dropped 1.60%.
Weakening trend in base metal pack at LME on demand concern as the International Monetary Fund (IMF) lowered its outlook for the global economy affected the trade.
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First Published: Apr 18 2013 | 1:57 PM IST