NEW DELHI, Oct 4: Nickel prices moved down by 0.54 per cent to Rs 839.50 per kg in futures trade today due to sluggish demand from alloy-makers in the spot market amid a weak global trend.
At the Multi Commodity Exchange, nickel for delivery in October declined by Rs 4.60, or 0.54 per cent to Rs 839.50 per kg in a turnover of 500 lots.
Similarly, the metal for delivery in November traded lower by Rs 4.40, or 0.52 per cent to Rs 848.40 per kg in 45 lots.
Analysts attributed the fall in nickel prices at futures trade to subdued domestic demand, particularly from alloy-makers, and a weak trend in base metals at the global market on concern that the US political impasse could lead to a recession in the world’s biggest economy. (PTI)
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