ET:Nickel futures down, tracking weak global markets
NEW DELHI: Amid a weak trend at the London Metal Exchange and sluggish spot demand, nickel futures prices fell by 0.58 per cent to Rs 932.50 per kg today.
At the Multi Commodity Exchange, nickel for delivery in November fell by Rs 5.40, or 0.58 per cent, to Rs 932.50 per kg, with a business turnover of 25 lots.
Likewise, the metal for delivery in August declined by Rs 3, or 0.33 per cent, to Rs 910.20 per kg, with a business turnover of six lots.
Marketmen said apart from sluggish demand from alloy makers, weakness in base metals at the London Metal Exchange (LME) on speculation that US policy makers will not embark on a fresh round of stimulus, with the dollar rising before reports may show improved consumer sentiment, put pressure on nickel futures here.
