NEW DELHI, Dec 13: Nickel prices dropped 0.33 per cent to Rs 869.70 per kg in futures trade today after participants trimmed holdings tracking a weak trend overseas amid low demand from alloy-makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in December dropped by Rs 3, or 0.33 per cent, to Rs 869.70 per kg in a business turnover of 407 lots.
Similarly, metal for delivery in January shed Rs 2.90, or 0.33 per cent, to Rs 877.90 per kg in 18 lots.
Market analysts said speculators reduced their positions due to sluggish demand from alloy-makers in the spot market amid a weak global trend amid speculation on the timing of stimulus cuts by the US Federal Reserve, mainly led to the decline in nickel prices at futures trade. (AGENCIES)
Trending Now
E-Paper
Follow our WhatsApp channel