NEW DELHI, Mar 10: Nickel prices moved down by 1.27 per cent to Rs 924.60 per kg in futures trade today as speculators trimmed their positions, taking negative cues from overseas markets.
Further, subdued demand from alloy-makers in the domestic spot markets also weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in March declined by Rs 11.90, or 1.27 per cent, to Rs 924.60 per kg in business turnover of 2,127 lots.
The metal for delivery in April shed Rs 11.40, or 1.21 per cent to Rs 931.10 per kg in 115 lots.
Market analysts the fall in nickel prices was mostly in tandem with a weakening trend in the entire base metals pack at the London Metal Exchange on demand concern on weak Chinese trade data and yuan’s depreciation.
Fall in demand from alloy-makers in the domestic spot markets too put pressure, they said. (AGENCIES)
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