NEW DELHI, Sept 4: Nickel futures prices today dropped by one per cent to Rs 947.10 per kg as speculators reduced holdings amid sluggish demand from alloy makers in the spot market and a weak overseas trend.
At the Multi Commodity Exchange, nickel prices for delivery in October dropped by Rs 9.60, or 1 per cent, to Rs 947.10 per kg in a business turnover of six lots.
Metal prices for delivery in September fell by Rs 9.30, or 0.98 per cent to trade at Rs 939 per kg in a turnover of 530 lots.
Market analysts said besides subdued demand from alloy makers in the spot market, a weak trend in copper and other base metals at the London Metal Exchange on mounting concern over the US Fed scaling back stimulus, weighed on nickel futures here. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel