Slippage in Nickel prices were registered soon after the markets opened. The closure of LME exchange brought little respite for the falling prices this time. The MCX Nickel December contract is trading down by 0.7% to Rs. 979.5 per kg. Nickel has seen some decent gains in December and even with a marginal drop in today's trades, the prices have appreciated by 13%. On a yearly basis, the metal has corrected by 25.5%. The drop down of demand of steel has led to a decline in Nickel consumption. Nickel markets were in surplus of 13000 tons in Jan-Oct 2011 as compared to a surplus of 100 tons in the full year 2010. The production of refined Nickel was 1.51 million tons in Jan-December 2010.
