ET:Nickel futures drop on sluggish demand, global cues
NEW DELHI: Nickel prices dropped 0.07 per cent to Rs 910.40 per kg in futures trade today after participants trimmed holdings tracking a weak trend overseas amid sluggish demand from alloy-makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in March dropped by 60 paise, or 0.07 per cent, to Rs 910.40 per kg in a business turnover of 1,162 lots.
Similarly, metal for delivery in April shed 50 paise, or 0.05 per cent, to Rs 917.90 per kg in 48 lots.
Market analysts said speculators reduced their positions due to sluggish demand from alloy-makers in the spot market amid a weak global trend on demand concerns, mainly led to the decline in nickel prices at futures trade.
