Nickel futures prices down on profit-booking

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SummaryNickel futures prices fell by 0.10 per cent today after speculators reduced their positions at prevailing level even as metal strengthened overseas.

Nickel futures prices fell by 0.10 per cent today after speculators reduced their positions at prevailing level even as metal strengthened overseas.

At the Multi Commodity Exchange, nickel for delivery in December traded Rs 1.30, or 0.10 per cent lower at Rs 965.60 per kg, with a business turnover of 1,233 lots.

Likewise, the metal for delivery in January declined by Re 1, or 0.06 per cent, to Rs 972.50 per kg, with a business turnover of 78 lots.

Market participants said apart from sluggish demand from alloy makers, profit-booking by speculators put pressure on nickel futures prices but gains in base metals at the London Metal Exchange, capped the losses

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