 "Nickel down 0.4% on muted demand")
Nickel prices dropped by 0.40% to Rs 595.50 per kg in futures market today as participants cut down their bets amid a weak demand at the domestic spot markets even as metal strengthened overseas.
At the Multi Commodity Exchange, nickel for delivery in February fell by Rs 2.30, or 0.40%, to Rs 595.50 per kg, in a business turnover of 283 lots.
On similar lines, the metal for delivery in January declined by Rs 2.20, or 0.37%, to Rs 590 per kg in 1,569 lots.
Analysts said the fall in nickel prices at futures trade was mostly trimming of positions by participants following low demand from alloy-makers at the domestic spot markets but firmness in copper and other base metals overseas, capped the losses.
At the Multi Commodity Exchange, nickel for delivery in February fell by Rs 2.30, or 0.40%, to Rs 595.50 per kg, in a business turnover of 283 lots.
On similar lines, the metal for delivery in January declined by Rs 2.20, or 0.37%, to Rs 590 per kg in 1,569 lots.
Analysts said the fall in nickel prices at futures trade was mostly trimming of positions by participants following low demand from alloy-makers at the domestic spot markets but firmness in copper and other base metals overseas, capped the losses.