Market Update

Market Watch

Tuesday, 10 June 2014

MCX Tips-Nickel Futures Down on Global Trend

Nickel futures today traded lower by 0.38 per cent to Rs 1,116.20 per kg largely in tune with a weakening trend overseas amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in June weakened by Rs 4.30 paise, or 0.38 per cent, to Rs 1,116.20 per kg in business turnover of 1,032 lots.Similarly, the metal for delivery in July traded lower by Rs 4.20, or 0.37 per cent, to Rs 1,121.50 per kg in 20 lots.
Market analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend in the base metals pack at the London Metal Exchange mainly weighed on nickel prices at futures trade here.

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