Nickel falls by 0.9% on weak global cues
Low demand at the domestic spot market also affected prices
 "Nickel falls by 0.9% on weak global cues")
Taking weak cues from global market and low demand at the domestic spot market, nickel prices dropped 0.86% to Rs 610.40 per kg in futures trade today as traders cut down their bets.
At Multi Commodity Exchange, nickel for delivery in current month was trading Rs 5.30, or 0.86%, down at Rs 610.40 per kg in a business turnover of 1,702 lots.
The metal for delivery December also shed Rs 5.20, or 0.84%, to Rs 616.60 per kg in a turnover of 181 lots.
Analysts said the fall in nickel prices in futures trade is mostly attributed to a weakening trend in base metal at the London Metal Exchange (LME) on concern Chinese demand is slowing and as the dollar traded at its strongest level in more than a decade.
Furthermore, easing demand from alloy-makers at the domestic spot market.
At Multi Commodity Exchange, nickel for delivery in current month was trading Rs 5.30, or 0.86%, down at Rs 610.40 per kg in a business turnover of 1,702 lots.
The metal for delivery December also shed Rs 5.20, or 0.84%, to Rs 616.60 per kg in a turnover of 181 lots.
Analysts said the fall in nickel prices in futures trade is mostly attributed to a weakening trend in base metal at the London Metal Exchange (LME) on concern Chinese demand is slowing and as the dollar traded at its strongest level in more than a decade.
Furthermore, easing demand from alloy-makers at the domestic spot market.
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First Published: Nov 17 2015 | 12:02 PM IST