NEW DELHI, Sept 22: Nickel prices fell sharply by 3.59 per cent to Rs 1,050 per kg in futures trade today amid a weak trend overseas and subdued domestic demand.
At the Multi Commodity Exchange, nickel for delivery in October plunged by Rs 39.10, or 3.59 per cent, to Rs 1,050 per kg in a turnover of 71 lots.
Similarly, the metal for delivery in September traded lower by Rs 38.10, or 3.53 per cent, to Rs 1,042.50 per kg in 1,236 lots.
Traders said besides subdued domestic demand, particularly from alloy-makers, a weak trend in the base metals pack on the London Metal Exchange (LME) before data tomorrow that may show manufacturing slowed for a second month in China, the biggest consumer, put pressure on nickel futures here. (PTI)
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