IE:Nickel weakens in futures trade on overseas trends
Amid profit-booking by speculators and weak trend overseas, nickel prices fell by 0.57 per cent to Rs 908.80 per kg in futures trade today. At the Multi Commodity Exchange, nickel for delivery in October fell by Rs 5.20, or 0.57 per cent, to Rs 908.80 per kg, with a business volume of 3,658 lots.
Similarly, the metal for delivery in November lost Rs 5, or 0.54 per cent, to Rs 917.30 per kg, with a trade turnover of 534 lots.
Traders attributed fall in nickel prices at futures to profit-booking by speculators and a weakness in the base metals on demand concerns at the London Metal Exchange.
