Nickel Futures Decline 0.48% on Subdued Demand, Global Cues

Published: 30th January 2015 11:39 AM  |   Last Updated: 30th January 2015 11:39 AM   |  A+A-


NEW DELHI: Nickel prices softened by 0.48 per cent to Rs 916.70 per kg in futures market today as speculators trimmed positions amidst low demand from alloy makers in the spot market.

Further, weakness in industrial metals at the London Metal Exchange (LME) weighed on prices.

At the Multi Commodity Exchange, nickel for delivery in January traded lower by Rs 3.40, or 0.48 per cent, to Rs 916.70 per kg in a turnover of 839 lots.

The metal for delivery in February weakened by Rs 2.80, or 0.30 per cent, to Rs 923.40 per kg in 451 lots.

Analysts said apart from subdued demand from alloy makers in the domestic spot market, weakness in metal at the LME ahead of this weekend’s release of manufacturing data from China, the biggest metals consumer, weighed on nickel futures here.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp