New Delhi, Nov 14 (PTI) Nickel prices dropped by 0.93 percent, to Rs 809.70 per kg in futures trade today as traderscut down their bets to book profits at current levels.
Moreover, weak cues from the domestic spot markets dueto muted demand too put pressure on the metal prices.
In futures trading at the Multi Commodity Exchange,nickel for delivery in November was trading Rs 7.60, or 0.93per cent, down at Rs 809.70 per kg in a business turnover of1,399 lots.
The metal for delivery in December also shed Rs 7.40 or0.90 per cent, to Rs 814.90 per kg in a turnover of 1,068lots.
Marketmen said the fall in nickel prices in futures tradeis mostly attributed to profit-booking by participants atexisting levels and a weak trend at the domestic spot marketsdue to low demand but strength in metal at the London MetalExchange (LME), capped the fall. PTI SUN KPS ADIMKJ.
This is unedited, unformatted feed from the Press Trust of India wire.