Nickel futures drop on profit-booking, global cues

NEW DELHI, June 3:  Nickel futures prices today dropped 0.50 per cent to Rs 1,152 per kg in as speculators locked in gains amid a weak trend overseas.
At the Multi Commodity Exchange, nickel prices for delivery in July dropped by Rs 5.80, or 0.50 per cent, to Rs 1,152 per kg in a business turnover of 29 lots.
Metal prices for delivery in June contracts fell by Rs 5.50, or 0.48 per cent, to trade at Rs 1,147 per kg in a turnover of 580 lots.
Market analysts said besides profit-booking, spot demand at domestic markets and a weak trend in base metals overseas after China manufacturing gauge misses estimates mainly weighed on nickel futures here. (PTI)


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