NEW DELHI, Sept 10: Amid profit-booking by speculators and weak trend overseas, nickel prices were down by 0.25 per cent to Rs 666.30 per kg in futures trade today.
In addition, a weak trend in metal at the spot market owing to slack demand from consuming industries put pressure on metal prices.
At Multi Commodity Exchange, nickel for delivery this month was trading down by Rs 1.70, or 0.25 per cent, at Rs 666.30 per kg in a business volume of 304 lots.
Metal for delivery in October too fell Rs 1.50, or 0.22 per cent to Rs 673.50 per kg, in a business volume of 22 lots.
According to marketmen, profit-booking by speculators at prevailing levels and reports of a weak trend in the base metals pack at the London Metal Exchange (LME) after data showed factory prices slumping in China.
Producer prices in China extended a decline to 42 months, underlining sluggish manufacturing in the world’s biggest metals consumer. (PTI)
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