Business Standard

Nickel futures weaken by 0.31% on muted spot demand

Image

Press Trust of India New Delhi
Nickel prices drifted down by 0.31 per cent to Rs 896.20 per kg in futures trade today as speculators cut bets amid sluggish demand in the spot market.

At the Multi Commodity Exchange, nickel for delivery in February month declined by Rs 2.80, or 0.31 per cent, to Rs 896.20 per kg in business turnover of 383 lots.

Likewise, the metal for deliver in March contracts was trading lower by a similar margin to Rs 899.50 per kg in 42 lots.

Analysts said offloading of positions by traders owing to muted demand from alloy-makers in the physical market mainly weighed on nickel prices at futures trade.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 27 2018 | 11:15 AM IST

Explore News