What's News

Nickel future prices marginally down on subdued demand

Time:[4/4/2012]   Hits:1846
PTI reported that nickel futures prices traded marginally lower by 0.07% to INR 943 per kilogram, due to reduced off take by traders on subdued demand from alloy makers in the spot market.

A weakening trend in global markets also dampened the trading sentiment.

At the Multi Commodity Exchange, the May 2012 delivery weakened by 70 paise or 0.07% to INR 943 per kilogram, with a business turnover of 187 lots.

The April 2012 contract traded lower by 50 paise or 0.05% to INR 931.80 per kilogram, with a business turnover of 1,896 lots.

Market analysts said besides subdued demand from alloy makers in the spot market, a weak trend in overseas market kept pressure on the nickel prices at futures trade.

Meanwhile, nickel was marginally down at USD 18,230 a tonne on the London Metal Exchange.