Nickel futures fall as traders trim positions

NEW DELHI, May 9:  Nickel prices were down 0.10 per cent to Rs 584.80 per kg in futures trade today as traders cut down their bets amid low demand at domestic spot markets.
At the Multi Commodity Exchange, nickel for delivery in June shed 60 paise, or 0.10 per cent down, at Rs 594.80 per kg, in a business turnover of six lots.
The metal for delivery in current month also eased by 50 paise, or 0.08 per cent, to Rs 589.20 per kg, in a turnover of 384 lots.
Analysts attributed the fall in nickel prices in futures trade mostly to a weakening trend in base metals at the domestic spot markets owing to subdued demand from alloy- makers. (PTI)


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