Nickel futures fall as muted demand hurts

NEW DELHI, Sept 12:  Nickel prices dropped 1.24 per cent to Rs 749 per kg in futures trade today amid muted demand at domestic spot markets and profit-booking by speculators.

At the Multi Commodity Exchange, nickel for delivery in October was trading down by Rs 9.40, or 1.24 per cent, at Rs 749 per kg in a business turnover of 44 lots.

The metal for delivery in the current month also lost Rs 8.70, or 1.15 per cent, to Rs 744.60 per kg in a turnover of 1,310 lots.

Analysts said the fall in nickel prices in futures trade was because participants cut down holdings amid a weakening trend at the domestic spot markets due to easing demand from alloy-makers. (PTI)


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