NEW DELHI, Dec 19: Tracking weakness in base metals overseas and subdued domestic demand, nickel futures prices fell by 0.30 per cent to Rs 971.60 per kg today after speculators reduced their positions.
At the Multi Commodity Exchange, nickel for delivery in December traded Rs 2.90, or 0.30 per cent lower at Rs 971.60 per kg, with a business turnover of 2,505 lots.
Likewise, the metal for delivery in January, next year eased by Rs 2.70, or 0.28 per cent, to Rs 977.10 per kg, with a business turnover of 183 lots.
Market participants said apart from sluggish demand from alloy-makers, weakness in the entire base metals pack in the global markets after copper’s stockpiles rose to a nine-month high at the London Metal Exchanger (LME) warehouse, putting pressure on nickel futures here. (PTI)
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