ET:Nickel futures down 0.40 pc on profit-booking, subdued demand
NEW DELHI: Nickel prices moved down by 0.40 per cent, to Rs 955.80 per kg in futures market today as speculators reduced their positions amid a weak trend at the spot markets on subdued demand.
However, metal's strength at the London Metal Exchange restricted the fall.
At the Multi Commodity Exchange, nickel for delivery in December declined by Rs 3.80, or 0.40 per cent, to Rs 955.80 per kg, with a business turnover of 1,088 lots.
Likewise, the metal for delivery in January lost Rs 3.60, or 0.37 per cent, to Rs 962.20 per kg, with a business turnover of 147 lots.
Marketmen said off-loading of positions by speculators amid a weak trend at the spot markets on sluggish demand from alloy-makers, mainly put pressure on the nickel futures prices.
They said, however, nickel's strength, limited the fall in prices.
