NEW DELHI, Sept 17: Nickel prices fell 0.37 per cent to Rs 1,109 per kg in futures trade today as speculators indulged in booking profits at prevailing levels ignoring the metal’s gains overseas.
Besides, low demand from alloy-makers and other consuming industries in domestic spot markets, weighed on prices.
At the Multi Commodity Exchange, nickel for delivery in September moved down by Rs 4.10, or 0.37 per cent, to Rs 1,109 per kg in a business turnover of 727 lots.
The metal for delivery in October shed Rs 3.70, or 0.33 per cent, to Rs 1,116.50 per kg in 36 lots.
Analysts said the fall in nickel prices at futures trade was largely due to profit-booking by participants but firmness in base metals pack at the London Metal Exchange (LME) limited the losses.
In addition, slackened demand from alloy-makers in the domestic spot markets too put pressure on the prices, they said.
Globally, nickel prices climbed as much as 1.5 per cent at the LME. (PTI)
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