ST: Indian nickel futures price down on sluggish demand
ET reported that nickel prices fell by INR 24.50 to INR 872.40 per kilogram in futures trade as speculators offloaded their positions after a fall in demand from alloy makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in June 2012 fell by INR 24.50 or 2.73% to INR 872.40 per kilogram in business turnover of 11,374 lots.
Similarly, the metal for delivery in July 2012 lost INR 24.50 or 2.70% to INR 882.20 per kg in 1,219 lots.
Market analysts said that speculators offloaded their positions, tracking a weak trend at spot market on sluggish demand from alloy makers mainly put pressure on nickel prices at futures trade.
