Muted demand, weak global cues drag down nickel futures
Nickel prices slipped by 0.15 per cent in futures trade Thursday as participants trimmed bets amid muted demand at the domestic physical markets and weak global cues.
Nickel for delivery in current month contract was trading lower by Rs 1.20, or 0.15 per cent down at Rs 779.30 per kg in futures trading at the Multi Commodity Exchange. It clocked a business turnover of 919 lots.
Traders said apart from low demand from alloy-makers at the domestic spot market, a weak trend in base metals at the London Metal Exchange amid worries over the outlook for global economic growth in view of China-US trade tensions, led to the fall in nickel futures here.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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